Earlier article showing that transactions wise, we may have turned the corner for the second year in 2019. Property transactions are still going up However, not many I spoke to actually has read about this positive development apart from the usual prices too high, market very slow and economy already in trouble. Haha. About the economy, earlier article here: 2020 GDP predictions for Malaysia
Have you read many negative news about the property market? If you did, then you will read even more because what we love to read are what Facebook will be showing even more. Yes, they could track all of us easily these days. So, be selective in what you read because it may soon influence you in your actions. too As for positive news, there are a few occasionally here in kopiandproperty.com yeah.
Today, let’s just listen to what Malaysian Institute of Estate Agents (MIEA) has to say with regards to the property market of Malaysia.
Article in edgemarkets.com Malaysian Institute of Estate Agents (MIEA) chief executive officer Soma Sundram Krishnasamy said this about the property market. “The signs are showing a stabilising market for the property sector where the first half (1H) of 2019 was better than 1H2018. With the Home Ownership Campaign (HOC) initiated by the government, we are of the view that the sector is on a recovery mode but at a slower pace.”
Soma Sundram also said that the real challenge with selling the overhang is the location where these homes were built. As most of the houses are not in strategic places, it will provide additional problems to the targeted Bottom 40 (B40) income group. He said, “We strongly advise that whatever product (houses) that developers and the government want to build for the B40, there must be a market and feasibility study including on the size, public amenities and services, environment and such.” Please refer to the full Article in edgemarkets.com
I just wish that more people are able to look at the property market as per what it really is. People need a home and they need it at a price they could afford. As for what these potential buyers really want, it’s also very important for them to understand what they really need instead. Sorry yeah, waiting till those landed property owners willingly sell you their properties for the same prices they bought will never happen. Not even high-rise units in some mature locations too.
On a personal note, I hope I could save enough to get another property in 2021, maybe. Haha. Slow… and steady… but surely. Who knows, it may just be in JB…
Next suggested article: Certainly NOT low risk and low returns when it comes to property investment