Luxury properties KL? Rising up but much slower than average.

Prime Global Residential Cities Index Q3 2018 launched by Knight Frank showed that the price of luxury properties rose 2.7 percent on average across 43 cities. This represents the WEAKEST performance in annual terms for almost 6 years. Article in NST here.  Knight Frank Asia-Pacific head of research Nicholas Holt said: “Prime residential markets continued to slow in Asia-Pacific in the third quarter (Q3) of 2018, with 13 of 17 regional markets seeing growth decelerate on the previous quarter. Rising interest rates, cooling measures and worsening prospects for global growth are all contributing factors to this region’s prime market slowdown.”

Singapore’s at the top of everyone, with prime prices up 13 percent over the 12-month period (Q3 2017-Q3 2018). This was driven by the limited availability of prime properties and a strong market outlook in the first half of this year. This may not be the peak yet because analysts in Singapore are expecting a new peak in private home prices by year-end as developers put in the market new launches on land they have acquired at significantly higher prices.

Kuala Lumpur only managed to squeeze into the top 30 out of the 43 cities at 29th. Our prime prices are up 0.7 per cent over the 12-month period (Q3 2017-Q3 2018). Knight Frank expects to see improvements this year in the Kuala Lumpur luxury condominium market on the back of renewed confidence and improving market sentiment. Knight Frank says that Malaysia is expected to be on investors’ radar after the market stabilises with more clarity in the policies of the newly-elected government. Article in NST here. 

Actually, the prices mentioned here will not affect most Malaysians. However, it is still good news because the prices are only up 0.7 percent for the past 1 year. Yes, this percentage is also reflective of the Malaysian property market which could briefly be summed up in one word; SLOW. For those looking at upgrading into these luxury properties, this may be a window of opportunity. For the rest of us, perhaps a look at the Malaysian House Price Index may be a better gauge. Please refer to image. Happy looking for a home sweet home.

written on 22 Nov 2018

Next suggested article:  Median property price in KL? RM550,000 and approval rate?

Advertisements is everything about property related writings and news. Enjoy reading with a latte.

Related Posts

Property prices falling: excess supply and cooling measures

This was reported by a UK-based newspaper, Financial Times (FT) about the property prices here in Kuala Lumpur. It said that the reason for average sales dropping by 4 percent since last July is because of two reasons; excess supply and domestic cooling measures. Judy Ong of Knight Frank in Kuala Lumpur said, “The inflation […]

Read More

‘Money not enough’ from beginning 2019 till July 2019

Important notice where money and loans are concerned. Article in here.  Nomura Research warned in its recent 2019 outlook report, that a number of countries in Asia including South Korea, Greater China, Singapore, Thailand and Malaysia may be experiencing a sudden shortage in the availability of money for lending, leading to a decline in loans available. […]

Read More

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Property investment news everyday? Subscribe for free!

An article a day, keeps you updated all the way.

Join 903 other subscribers

LIKE us for property news update, FREE.

%d bloggers like this: