Why are there SO MANY property advertisements in newspaper?

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Today (20 June), I bought The Star newspaper and every 2-3 pages, there is ONE property advertisement. Total number of property advertisements? 17. How many did I remember? A few lah. Haha. There were also many from out of Malaysia. Don’t they know Ringgit is down and thus would be tougher for Malaysians to buy overseas properties? Hmm… perhaps it’s also TOUGH to sell in their domestic market today? Yes, the bullish times stopped in 2013 and the bearish times are still here. If you read enough, you would notice that some are saying that the worse may yet to come though there are now some murmurs that perhaps H2 2015 is going to be better.

Remember, your personal estimation and prediction may be as accurate as any of the so called property gurus in the market today. Many of these property gurus may be paid to say certain stuffs too but more often than not, if we read enough, in many circumstances we may be able to detect some ‘irregularities’ in some of the items presented. I personally do not believe that the luxury condo market is still going up and the current secondary properties worth RM500,000 would rise to RM800,000 even when market recovers. Sorry, there are just not that many rich Malaysians to mop up all these RM800,000 units.

I admit when I started looking for a much bigger place to move last year, my budget was RM850,000 or lower but the more I look, the more I believe there’s a mismatch between the prices of today and the salaries of today. In the end, I chose to move next to Sungai Buloh for a bigger and cheaper place instead. My family and I have enjoyed our new place for the past 8 months. Price is definitely not a determinant of happiness in this case. Thus, no matter how awesome or amazing a new project is, if the prices are crazy, I will just skip. Perhaps that’s because I am just a full-time employee. Then again….. MAJORITY of all Malaysians are the same too. Few are super-rich anyway. Enjoy what you can afford. Period.

written on 20 June 2015

Next suggested article: Weakening demand for luxury condos, increasing prices for cheaper condos

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