Every time anyone asks me about the state of the property market, I would tell them that we remain a developing nation and urbanisation is continuing at a fast pace.
There are at least 200,000 new tertiary education graduates on a yearly basis and their first destination is always the bigger cities. They look for a better career, higher pay and hopefully that better life which everyone is aspiring towards.
However, the reason they ask is also because they could feel that the sentiment in the market is still negative and they just wanted an additional assurance to start looking and perhaps buying.
By the way, if we truly look at property investment as a long term decision, then ANYTIME is a good time to buy. Just don’t buy those overpriced ones yeah…As for the Malaysian property market…
Article in themalaysianreserve.com here. Property analysts say that the property market may have finally “bottomed out” and is currently clawing its way up for a slow recovery.
Knight Frank Malaysia Sdn Bhd MD Sarkunan Subramaniam said, “The volume and value of residential transactions have also continued to improve since the first quarter of 2017 (1Q17).
These positive signs appear to indicate that the market may have bottomed out and is in a slow recovery mode.”
He also said, “Following the historic conclusion of the election, the market has since gained ground which is evident from higher levels of property market activities in 3Q18 and 4Q18.
Barring any unforeseen circumstances, we expect market activities to pick up in the following months/quarters supported by the ongoing Home Ownership Campaign 2019, developer’s financing packages, property crowdfunding platforms, etc.” Article in themalaysianreserve.com here.
Actually the article in The Malaysian Reserve also contained words from a prominent personality who had predicted that the property market would crash.
He is now saying that we ought to be cautious and look at a few more quarters to be sure. Perhaps he has no intention to buy a property as investment.
This is because if we feel that the market is on the road to recovery, it may be more prudent to start looking and buying and then waiting for sentiment to become bullish versus waiting until the sign is extremely clear and then only buying because by then we would have needed to pay extra due to the positive sentiment.
Then again, maybe it’s still better than to buy when the market is at its highest point. Is the market on the road to recovery?
My advice, don’t look at the timing, look at the pricing instead. In a slow market, there are opportunities with good pricing. If we are ready, go for it.
Article written and edited by Charles. News article summarised by Dina Batrisyia.
<Featured Image is courtesy of Stock Photos from ESB Professional >
Next suggested article: Turning around perhaps? Two quarters more, perhaps.