Overhang units? We have none says CEO Datuk Chang.

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Certainly a refreshing revelation. Budget 2019 was focused on reduction of overhang units. We even have the Home Ownership Campaign (HOC) 2019 as per earlier article here. All these point to the seriousness of overhang units and why reducing them as soon as possible will bring about positive sentiments. Then, I read this in an Article in NST here. CEO: No overhang units at EcoWorld ECO World Development Group Bhd (EcoWorld) president and chief executive officer Datuk Chang Khim Wah says that Eco World has no overhang units despite the weak property market environment. He said, “We always hear negative news about the property market, such as the increasing overhang units and affordable homes issue, but it is quite the opposite for EcoWorld Malaysia.”

As at 3rd quarter 2018, National Property Information Centre reported that the number of unsold houses in Malaysia reached a record high of 30,115 units valued at RM19.54 billion. He added that EcoWorld consistently sells between RM3 billion and RM4 billion worth of properties every year. Chang says that he is optimistic for EcoWorld Malaysia’s prospects with the launch of HOPE (Home Ownership Programme).This applies to EcoWorld Malaysia’s residential properties and is expected to raise RM6 billion in sales for the financial years 2019 and 2020. , and is optimistic about its prospects following the success of a similar campaign which ran from July to October last year. HOPE offers two methods—stay2own (S2O) and help2own (H2O) for purchasers to start their home ownership journey. Earlier article here on HOPE here. As for reference to the NST article, please click here.

Chang also said something very relevant to the young. He said, “If we are able to assist the young to own a good home earlier, it will also enable them to accumulate wealth sooner.” I would like to remind everyone that property is a necessity and whether we want or don’t want, having a property enables us to either gain from capital appreciation of hedge against the effects of inflation. Starting young meanwhile meant that one has time on their side and upgrades to a better property in the future years would meant that one has already started their property investment journey. How to calculate the returns from the property price appreciation? Property investment is not low risk and low returns Happy following.

written on 1 Feb 2019

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