If you are looking for investment opportunity in the property market, here’s a few categories of properties that you should not overlook:

Old houses

Old houses that often shun buyers away, especially those that are left vacant and run-down. But many does not know that these properties could be a hidden gem that offers huge investment potential.

These houses - if located in a strategic location and comes with the right price – has the potential of generating the same or even higher rental income and capital appreciation comparable to those better-looking properties, after there are given a bit of facelift.

All you need to do is carry out restoration and refurbishment work on certain areas that can significantly improve the value of the house.

But you need to ensure that the cost of restoration or refurbishment isn’t too high. Also, you should try and make every Ringgit count and spend them on areas that can create the highest value, such as kitchens and bathrooms.

A brand-new kitchen with a contemporary interior design or a sparkling new bathroom suite with shiny taps and modern heater could add some serious value onto the house.

Property that has been up for sale for long time

Another way to find great deals is to look for properties that have been on the market for a long time as the owners are often more willing to sell them for a discount.

Many buyers would think that there's something wrong with these properties due to the fact that they couldn’t find a buyer for a long time, but the actual reason could be very normal.

For example, it could be a “for-sale-by-owner” property that the selling was being handled by the owner, until an estate agent is appointed to take over the task as the owner’s attempt yield no result.

It could also be a property with a price tag that is too high and thus could find a taker, until the seller is willing to compromise and lower the price recently.

Nevertheless, these owners are more likely to sell their property for a discount as they could they could be tired of holding on to that property, or they needed cash for urgent matter in the current challenging economic landscape.

Properties in the suburb or a new township development

The location that these properties are situated often perceived as “too far” by many buyers who are not familiar with or haven’t been to the place.

But these suburb or new townships, which has a lower property prices now, has the potential of growing into the established areas today, such as Puchong, Subang Jaya and Desa ParkCity, due to the ongoing urbanisation in the country.

Moreover, the liveability of these areas can be as good as urban areas and city centres and with the improving infrastructure and economic activity, more vibrancy will be created and attract more people to reside into the areas.

Hence, it is actually a good opportunity to invest in these areas they become popular and prices start to take-off. If you buy into these areas late, prices would have been pushed up by the increased demand and you will end up getting less in the rental and capital return.

Where to look for these hidden gems?

You can drive around and looking for houses that look vacant and possibly would sell for a price and you can try and track down the owner through title search or asking the neighbours.

But the most effective way is to consult a professional real estate agency with a large network of negotiators or property listings in order to identify the best deals that matches your preferences.

At PropNex, we have more than 30% market share in the residential segment and an in-depth coverage on the commercial and industrial sector that makes property hunting a quick and easy process for our clients.