16/07/2026
One Equine Owners: Sell or Rent After VP? Don’t Just Look at the SPA Price!
With more owners receiving the keys to One Equine Phase 2, one question keeps coming up:
“Should I sell now, or should I rent it out?”
Many owners think it’s simple:
“I bought it at RM330,000. If I sell it at RM330,000, I won’t lose money.”
Unfortunately, property investment isn’t that straightforward.
Using a One Equine 452 sqft Dual-Key (2 Bed 2 Bath) as an example, here’s how I usually look at it. (Figures below are for illustration only. Every owner’s situation is different.)
Example
* SPA Price: RM330,000
* Developer Rebate: 10%
* 90% Bank Loan (based on SPA Price)
* High Floor
* Facing Facilities
* Bare Unit
If you sell at RM330,000…
Many people only compare:
Buy RM330k → Sell RM330k = No Loss
But don’t forget these costs:
✔️ Real estate agency fee
✔️ Legal fees for the sale
✔️ Outstanding bank loan
✔️ Progressive interest paid before VP
✔️ Mortgage interest after VP
After deducting these expenses, the amount you actually receive may be much lower than expected.
What about RPGT?
Another cost that many owners overlook is Real Property Gains Tax (RPGT).
For properties sold within the RPGT holding period, the tax is based on your chargeable gain, not simply the selling price.
For example:
* Buying at RM330k and selling at RM330k generally means there is little or no capital gain to be taxed.
* However, if you sell at a higher price, RPGT may become part of your overall calculation depending on your actual chargeable gain and allowable deductions.
That’s why a higher selling price doesn’t necessarily mean higher profit.
So… should you sell or rent?
For a 452 sqft Dual-Key 2R2B, the rental potential is one of its biggest strengths.
Example:
Room 1 ≈ RM1,000/month
Room 2 ≈ RM1,000/month
Potential total rental:
Around RM2,000/month
For investors, this unit isn’t just about resale value.
It’s also about generating consistent rental cash flow.
My thoughts
If you:
* Need immediate cash,
* Have another investment opportunity,
* Or don’t wish to manage tenants,
Selling may be the right decision.
However, if:
* You can afford to hold,
* The rental demand remains healthy,
* And you’re investing for long-term cash flow,
Renting out the property could be the better strategy.
Every owner’s financial situation is different.
Before deciding to sell, don’t just ask:
“How much can I sell it for?”
Instead, ask:
“After all the costs, how much will I actually keep?”
That’s the number that really matters.
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