We have this Quarterly Malaysian Property Market Review for everyone’s benefit yeah.
kopiandproperty.com is just a property blog yeah. Haha. So, all these reports with lots of information has to come from a company with enough researchers and analysts and even full-time writers yeah.
Here, we have the Quarterly Malaysian Property Market Review from CCO & Associates. This is how they introduce themselves, “CCO & Associates is a firm of Chartered Valuation Surveyors, Registered Valuers, Estate Agents, Property Managers and Auctioneer. It was first established in 1987 in Johor Bahru, State of Johor and has since expanded to Kuala Lumpur, Selangor and Perak.” You may read the full report here: Download the full report here. Else, here are some interesting news which I have cut and paste for everyone yeah.
Unemployment Malaysia. I shared this recently when I was invited by PropertyQueen. Malaysia’s unemployment rate did NOT rise to 5% from 0%… It rose from 3-3.5% to 5%… Now, it has dropped. We need to understand that the 700 thousand plus Malaysians who are unemployed did NOT start from zero… It started from 600 thousand.. or thereabouts. For actual numbers from CCO & Associates, do refer below:
2020 March: 610.5 thousand (3.9%)
2020 April: 778.8 thousand (5.0%)
2020 May: 826.1 thousand (5.3%)
2020 June: 773.2 thousand (4.9%)
2020 July: 745.1 thousand (4.7%)
2020 August: 741.6 thousand (4.7%)
2020 September: 737.5 thousand (4.6%)
Office space and that view that work from home will be the norm. By the way, I disagree yeah. As for CCO’s actual report, this was what was reported.
— start —
Purpose built offices
Based on the latest report by National Property Information Centre (NAPIC), during
the third quarter of 2020, occupancy rate of purpose-built offices reduced marginally
from 74.3% in second quarter 2020 to 74.0% in third quarter of 2020. The occupied
office spaces increased marginally to 12.744 million square meters from 13.695
million square meters in second quarter 2020.
— end —
Hope everyone is now clear that the occupancy is still at 74% and this has only reduced marginally. In fact, the occupied office space showed an increasing trend yeah versus the quarter before. As for that article about my view about working from home, click here: New norm is not about abandoning office and working from home
Readers of kopiandproperty.com would also know that I have reiterated many times that our property market is NOT on the verge of collapsing. In fact, people continue to buy and just within H1 2020, we have over 75,000 transactions yeah. (click here to view the charts). This was what the CCO report says:
— start —
Residential property market
Generally, the residential property sector continued to record commendable
performances during the third quarter of 2020. Developers have launched new
residential projects capitalizing on the Home Ownership Campaign (HOC) and the low
interest rates to drive sales of the projects.
During the third quarter 2020, many public listed property development companies
have reported positive financial results. Most development companies have also
expressed confidence in achieving their sales targets for their financial years despitethe COVID-19 outbreak.
— end —
Note the word “commendable” yeah. Note the word “reported positive financial result” yeah. Hope this clears the doubts. We are nowhere near “awesome” definitely but we are definitely nowhere near “depressed” as well yeah.
Revenge travelling… I shared that 2021 will definitely be a good year versus 2020 because everything which people did not get to do including travelling… will all be done in 2021. This was what was reported by CCO yeah.
— start —
With the lifting of the interstate traveling during the RMCO, staycation or local
holidays (or better known as Cuti-Cuti Malaysia) have improved the demand for
hospitality properties. Generally, occupancy rates for hotels have improved to over
30% in third quarter 2020 as compared to between 8% to 9% occupancy rates
recorded during the second quarter 2020.
— end —
If you have half an hour, you may read the full report here: Download the full report here.
I am happy to note that my sharing in kopiandproperty.com is quite reflective in this report by CCO & Associates. At least now I know what I share is really reflective of what’s really happening in theproperty market.
Till the next quarter, thank you CCO & Associates. I love your quarterly overview. Practically all that I have read and many which I did not have appeared in your 31 page report yeah. Really good work. Keep up the good work in the realestate industry.
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