Dear kopiandproperty.com readers, what year do you think the property market would soar again? Anyone here for 2017? What about 2018 or even 2019? Okay, for those who say 2020, I love you guys. I think you can start buying next year if you expect 2020 to be an awesome year. Haha. Anyway, according to a group of experts in the recent Asian Strategy & Leadership Institute, the answer may be between 2018 and 2019. Wow, I think we have seen these two predictions before right.
Anyway, there’s a full article in thestar.com.my dated 1 Oct 2016. It’s a little long and thus here are some of the predictions stated by the experts in the industry. Interesting and good to take note of before we sign on the dotted lines perhaps.
2017 or 2018 – Real Estate and Housing Developers’ Association Malaysia (Rehda) patron Datuk Jeffrey Ng Tiong Lip reckoned the residential sector should recover next year or in 2018.
2019 – Property consultants Savills Malaysia managing director Allan Soo, who specialises in the retail malls, expects a 2019 recovery.
Depends… Office market specialist Jones Lang Wootton executive director Malathi Thevendre declined to make any predictions. “It all depends …,” she says.
Not much in the next 4-5 years – Kenanga Investment Bank Bhd equity research head Sarah Lim Fern Chieh expects house prices to be flattish or slightly weak depending on locations “over the next four to five years, if there are no major policy changes”.
Affordable is the theme – Andaman group managing director Datuk Seri Vincent Tiew says developers will be offering “more realistic pricing” from now onwards with location being a paramount factor.
Got any idea yet? If you haven’t, it meant you have not started viewing at all. Without viewing and knowing the availability and the prices being offered, let’s not even start speculating on when is the market going to recover. I had a good chat with Stephen Soon of MNP Auctioneers who concurred with me that if slow times are not the best times to think about buying, when should be the best time? In his words, “Today, if we bring along our cheque book, it’s easier to negotiate for good deals.” Happy believing.
written on 13 Oct 2016
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