Property Clock, where are we?

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Property Insight Malaysia shared a very concise chart / property clock. Where are we now? Depending on where you read and whom you ask, the answer may be different. Even the readers in Property Insight Malaysia has different opinions despite everyone reading the same magazine / facebook page! 🙂   In real terms, transactions has been going down since 2012. This may mean affordability may be severely tested as the prices has continuously been going up for a few years. If you were to drive past some newly completed condos, even after 12 months, not many has their lights on at night. Perhaps there are more buyers of the stock than genuine need? This indicated ‘stock oversupply’. Thus, this means we are in the ‘Slowdown’ or between 12 o’clock to 2pm. So, are we in this scenario today?

property clockMany are taking a much more cautious approach, indicating lacking in confidence. The number of postings for sales are also increasing. In fact the advertisements in newspapers, online, radio and every type of media is also increasing. Is it getting harder to sell? Then again, there are still projects which opens to queues due to location and pricing. This brings us to the 4pm – 6pm category albeit not all the time. Dato Jerry Chan, the REHDA President in a recent press conference said that ‘prices are definitely lower today compared to six months later’. He may be biased but there are truths in what he said because CIMB Research said the same thing few weeks ago.

The best part is, everyone has their own interpretations and they may be right because someone in Penang may tell you that his investment in Batu Kawan has not moved for at least 5 years. Rental yield hardly existing but it is definitely not seller’s market because if it is why is the property price still so low? I think the answer may be stock mismatch, at this moment. This may just be solved by the opening of the Penang second bridge or the MRT project in the Greater KL. The Iskandar ‘overhype’ and negative sentiment may also be solved by a simple agreement to bring forward the RTS (Rapid Transit System) by the two Prime Ministers. The question is, which side you believe more. As at today, I am the 4pm – 6pm believer. What about you?

written on 25 Jan 2014

Next suggested article: Property Transactions and Prices 1H2010 – 1H2013. 

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