First half 2017 volatile. Second half good time to buy?

We have been hearing of how affordable homes are the ones which are moving or in demand by majority of buyers today. Luxury ones are not that marketable due to lower demands. Developers love to build affordable these days Here’s an article from iProperty about reasons for a volatile first half of 2017 and a good second half 2017 to buy. My friend Dr.Daniele Gambero has this to say about property investment. “When looking at timing, this means knowing when to enter and exit the market. In fact, now is a good time for you to start your property hunt as there is so much supply of homes in the market. This has made it a buyers’ market. However, you must also be discerning by looking at where the demand is as this will enhance your future property values. There is currently strong demand for affordable homes. Therefore, you should have an investor’s mindset by looking for the most affordable home but with the greatest room for capital appreciation.” He was speaking at a recently concluded talk held at Bukit Puchong Sales Gallery.

As for the best times to buy, Prof.Joe Choo, president of Malaysian Institute of Geomancy Science (MINGS) said, “A good time to buy a property will be the second half of the year. For the first half, the market is still very volatile. The second half will be more stable and you will see more available stocks in the market. The secondary market will be very good. The primary market is a bit slow this year. However, for next year, the primary market will be good.” Echoing his view would be TAHPS Group CEO Eugene Khoo. He shared that in 2017, the property market will be flat. In fact many developers are already offering attractive packages and/or rebates to entice purchasers to clear existing stock. I see more developers launching smaller sized properties, especially in the high rise category to increase affordability. Don’t be surprised to see 400 sq ft properties being launched.” The full article is here. 

It’s good to visit the areas that we are buying regardless of first half or second half of 2017. Sometimes, our hunch is better than any prediction or calculation. My advise is always to buy something that we are comfortable with because chances are, there are future buyers who would also be comfortable too. The thing to watch out for would be the price that we are paying. On a much longer period, the property we buy should naturally become an investment. By the way, lots of TIME is needed for property purchase. Secondly, during boom periods, prices tend to move up faster simply because demand spiked suddenly and the better projects cannot suddenly multiply in the number of units. Happy

written on 16 March 2017

Next suggested article:  Property Malaysia: Slight price drop and rental market growth 2017

 

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