I read the original report in www.propertyguru.com.sg. According to the latest 12-month period ending September 2013, according to the Knight Frank Global House Price Index, the property market in Malaysia grew 10.2% to finish as no.12 best performer. The top performer is Dubai, with 28.5% rise within 12 months! China was 2nd with 21,6% up and Hong Hong third with 16.1% up.
According to Knight Frank’s analysis, “The index now stands four percent above its previous peak in Q2 2008, and 12.7 percent above its financial crisis low in Q2 2009. Prices rose on average by 1.5 percent in the third quarter, taking annual price growth to 4.6 percent.”
I do not know how they get the number of 10.2% but I think 10.2% is considered quite high. No wonder so many cooling measures were put in place. 🙂 I think the results are starting to show, especially with the slowing down of the transactions except for Iskandar up till October. Waiting eagerly to see how much the market has slowed down, especially in Iskandar since foreigners now have many restrictions when buying; over RM1 million properties only as well as selling their properties to only foreigners.
The only good news may be Medini which has since been exempted but the catalyst would definitely be the bullet train as well as more details on the RTS emerging.
written on 15th dec 2013
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