Interesting survey by StarProperty.my in its latest Buyers’ Sentiment Survey. Article in TheStar.com.my here. It says that majority of the 3,000 respondents in the latest survey said that they are keen to buy in 2019. 42 percent says they will buy within 12 months. 34 percent says not thinking of buying while 24 percent says they are undecided. (This is why the last mile is so important! Just getting more leads are not going to close the sale yeah.)
Out of those surveyed, 84 percent says they prefer to buy versus renting. This is actually very predictable. The issue is that these days, people are renting homes which they may not be able to afford to buy in future. Today, owners of properties are under pressure and thus they are renting their homes at a lower rate than their monthly mortgage. When we have enjoyed such a nice place at a lower rental, it’s tough to choose to pay a similar mortgage for an inferior home. Earlier article here. Once you rent high, you may never buy I also think it’s very important for people who’s thinking of property to note that property is not an investment which is low risk and low returns yeah. Here’s one earlier article: Property investment is not low risk and low returns
For those who have listened to my talks recently, I have shared that property demand will always depend on affordability and it’s not location, location and location. Unless of course one has unlimited financial capability. Fact is, if KLCC remains extremely affordable, there’s no way my friends would buy in Semenyih for landed properties. The findings of the survey also revealed that the price of property (with a weighted average of 3.85) tops the list of factors that influence buyers, followed closely by safety and security (3.82) with location (3.80) in third spot. To know the results in full, do refer to the Article in TheStar.com.my here.
Let’s also understand that wanting to buy versus actually getting ready to buy are two very different things. This is why we could set our yearly goals in January but at the end of the year, we may not have even started… If we really intend to buy, then read this article: 10 reasons why we will fail to buy property As for the actual results from the survey, we should start seeing some results by H1 2019. Just look at the transaction numbers which will be announced on a quarterly basis. Someone asked if 2019 is a good year to buy when it is an investment property. Actually, whether it’s 2019, 2020 or even 2021, the answer is the same. “Have you identified the type, location and project? If yes, is the affordability okay?’ Answering YES means a buy. Anything else means not yet. The year matters very little. Why invest in a property? Here’s one recent article. Happy following.
written on 21 jan 2019
Next suggested article: Staying further is a fact of life, everywhere