Malaysians love negative news, somehow. I am serious. Every time I share negative news, the article tend to get more shares and more clicks. However, when I write about something positive with the property market, it gets fewer shares and lower clicks. It’s okay, I continue to write about positive news. Hopefully everyone gets to know about the happenings and thus are more objective with their assessments, especially with the Malaysian property market.
If we believe property market recovery means a better number where transactions and values are concerned, then I think it’s about time we know that the property numbers (transaction and value) for 2019 should be better than 2018. We start to have more media reporting about this. Well, 2018 was very slightly better than 2017. Earlier article here: Positive 2018 when compared to 2017 for property market Malaysia At the very least, it’s already happening for the primary market.
Article in malaymail.com FIABCI Malaysia President Michael Geh said the Malaysian residential property market recorded RM14.65 billion worth of transactions in the primary market between January and September this year. This is already higher than the total value of transactions for primary residential property market for the whole of 2018 which stood at RM12.91 billion.
He added, “This shows that the various policies introduced by the government to spur the property industry were effective for the first half of this year.” Primary market meant newly completed properties sold by developers and secondary market means pre-owned properties sold directly by the respective owners.
Geh also shared that the policies from the Housing and Local Government Ministry and Finance Ministry which was formulated with consultation with key stakeholders has been effective. He said, “The policies have resulted in positive increase in residential property transactions for the first half of 2019 in which a total 99,922 transactions were recorded for the first half of 2019 compared to 94,200 transactions in the first half of 2018.” Please refer to the article in malaymail.com for more details.
We will see if more people reads this article and starts to share it with friends yeah. By the way, the numbers here are official numbers and not a number plucked from the sky yeah. Someone also asked me the other day on FB about this article about the Home Ownership Campaign (HOC) : HOC a success? Value and Volume thus far. He asked if these numbers are really HOC numbers because the developers may have just reported an overall number as HOC numbers. I told him that HOC is not a blanket application for the whole project.
Thus, if a project has 700 units but the developer asked for HOC for 200 of the units, then only these 200 are under HOC even though the other 500 units not under HOC is also from the same project. Anyway, let’s hope this continue yeah. As all of us could see, it does seem that the GDP numbers for Malaysia continue to be positive. We had a better Q2 than Q1 2019 even. Happy following.
<Featured Image is courtesy of Stock Photos from Andrii Yalanskyi>
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