Many real estate people are starting to be cautiously positive about Malaysia’s property market. Not me, I have been optimistic for the longest of time but I am just a blogger. 😛 Many potential property buyers continue to be negative though and this could be seen from the market transactions especially the first 6 months from the Home Ownership Campaign 2019. Earlier article here. Following would be thoughts by Knight Frank Malaysia about the positive upward momentum for property market Malaysia.
Article in malaymail.com Knight Frank Malaysia’s managing director Sarkunan Subramaniam said, “We may finally be seeing rays of hope in the housing market. The HOC 2019 campaign, which has been extended till December 31, 2019, is expected to provide further traction to the housing market, including the high-end condominium/serviced apartment segment.” He added, “Many developers are participating in the HOC as it presents a good opportunity for them to clear their existing inventories, which is positive for the residential market.”
It said HOC 2019 is one of those impactful events on the residential market. Many Malaysians could take advantage and increase their home ownership through this campaign and it will help to address the property overhang situation. Its assessment of the retail sales is positive. It said that retail sales remain in expansionary territory. It suggested that operators of existing shopping malls should continuously review their trade and tenant mix to ensure that they remain attractive and cater to consumers within their trade areas.
Retailers meanwhile must innovate and refresh their stores by embracing technology for improved in-store experiences in the diluted retail market. Rental and occupancy levels are seen to be holding firm in KL fringe and Selangor. Due to the availability the rail transit lines, this has boosted the popularity of decentralised office locations. Article in malaymail.com
Even when I was speaking in Penang last weekend (talk here), I continue to feel that everyone (the audience) remains very careful when it comes to property investment. They want to be assured, want to face the lowest risk possible and want to buy only properties which are sure to give positive returns. That last thought will not be easy if we are looking at it on a 12-month basis. However, assuming we agree with Knight Frank Malaysia’s assessment, then perhaps this is now the time to start becoming more active again. Treat it as investment, not as a speculation. Happy understanding.
<Featured Image is courtesy of Stock Photos from torc>
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