After the first article was published about the different opinions on the property market in Malaysia, it garnered no less than 1,000 views within few days. I think everyone loves it if someone can read ten different articles from ten different places, summarises them into just one article. Ok, I am doing the second summarising today, covering the opinions that I did not cover in my first article earlier.
From Iskandar, we have REHDA Johor Chairman, Mr. Koh saying that the Year of the Horse is going to be challenging and that developers must be well-prepared to face the worst. In fact he said that most of the developers would not rush and instead would adopt a wait-and-see approach in the first quarter of 2014. Does this mean lesser launchings? Let’s wait.
KGV International Property Consultants (M) Sdn Bhd director Samuel Tan Wee Cheng meanwhile said theat due to all the new policies, the buyers would be more cautious. The two significant ones are the RPGT hike and the ceiling price hike for foreigners from RM500,000 to RM1 million. (Currently, this has yet to be gazetted, perhaps effective only from April 2014)
Veena Loh, the General Manager of Malaysia Property Incoroprated (MPI) said that Penang will not be hot this year compared to KL. However, she opines that Iskandar Malaysia is going to be very good for the long term. Generally though, both local and foreign buyers will likely take a wait-and-see attitude this year. (2014)
Paul Khong, Executive Director of CB Richard Ellis gave a strong endorsements to the following areas in Klang Valley. He said, these areas can never be wrong. Damansara Heights, Desa Park City, Hartamas, Bandar Utama, Mutiara Damansara and Bangsar. Nevertheless, he did say that the landed properties in these locations are already at a premium.
The Managing Director of Khong & Jaafar, Elvin Fernandez said that landed properties and shop houses will continue to be favourite of many. He also said something which is most likely happening; interest rates will be going up this year. Nevertheless, he does not expect a drastic fall in prices though volume will drop a lot making it difficult for developers and making competition in the housing industry harder.
There, I think we have covered nearly all or majority of all the more famous comments which are published in major newspapers both offline and online. Many words kept repeating themselves, ‘prices not falling’, ‘cautious but optimistic’. Think what you think. Do what you do. Happy reading.
written on 25th Jan 2014
Next suggested article: Steps to start your property investments
Alternatively read the original article about the ‘recent opinions of property gurus’