What would happen to the Malaysia property market 40 years later? A very interesting thought indeed. Unfortunately I have no crystal ball to help me. A friend asked me this question. I would like to give my own personal views about what would happen. The state of the property market would depend on the state of the economy, the health of the nation. I do not want to predict, let me present some studies done by really good research entities well known in the world. The last reason is mine and it’s just based on observation.
Let’s look at just three things. Size of economy, competitiveness, baby shops. All these would depend on the people.
Size of economy. HSBC published a study on which economies they think will be top 30 in the world by 2050. Which is around 40 years from this year. Their report is based on a host of statistics and of course projections. I do believe this study is grounded on real numbers and was not done by one researcher who searched online data from google or wiki. 🙂 Let’s look at a brief economic league table by HSBC here. You can access the full report here: The World in 2050
Competitiveness. IMD’s Competitiveness Study which is one of the most authoritative study showed that Malaysia has continued to be very competitive versus all other countries. Before you even start to say, it can’t be true, let me give you a few examples which has not been the case in the past. Not many countries in the world where you can get a business registered within the same day, get your new passport within 1 hour as well as having all the different government agencies under one roof in a prominent centralised location. My mother renewed her IC at 930pm two weeks ago! You can read more here: IMD Competitiveness Study.
Baby shops. When I started working, there were very few if any baby shops. There are baby departments in the supermarkets but baby shops were non existent. Today, no matter which departmental stores you go to, there are dozens of baby stores, children clothes stores. This is a very encouraging sign because babies today would be adults in the next 30-40 years and this meant that the demand for properties would continue well into the future. If we look at the current median age of Malaysia, we would find that properties will be in demand, from the affordable ones to upgrades and to luxury ones. Basically, if there’s one certainty, it’s demand for property!
These are the three reasons why I believe Malaysia would continue to prosper. I have a lot of friends who said the grass is greener on the other side but ‘Grass is greener on the other side because the other side only tells you their good side’. These are also the reasons why I continue to view properties even though I may not have any ‘ammunition’ at this moment as I am still waiting for a good price for my property.
Next suggested article: More opinions on property market Malaysia