As a buyer, I also hope the market is less rosy lah

As a buyer, I also hope the market is less rosy lah

A learned friend once told me that when everyone is buying property without thinking much, the property prices should be rising. Makes sense! Meanwhile if everyone starts to say bad things about the property market, then should the prices start dropping then? I ask myself as an owner. If someone were to badmouth about the property market and then come to me and ask me to sell my property at a lower price, what would I do? I will politely ask the person to go fly kite or in Hokkien, wait long long lah…

How about looking at stats then?

Zero is the number before negative number starts. It is also the number before a positive number starts. Agree? So, if we like to know if property price is decreasing or increasing every year, it’s such an easy task to do. Just go to National Property Information Centre (NAPIC), look at the latest Malaysian House Price Index and we have the actual idea if prices are moving up or down.

If we look at the below, it’s easy to say property price is dropping but the only state where the property price index is below zero is just Penang and Kuala Lumpur. Other states such as Johor, Selangor and even Malaysia as a whole is still increasing but at a very small single digit growth lah.

How about asking all the potential buyers then?

Frankly, if I am a potential buyer and I am speaking to a potential seller, I would share with the potential seller that if he sells quickly, he could use the money and reinvest elsewhere. If he kept holding on, that’s a big holding cost and he has no funds to invest into other things which would have given him higher returns too. Thus, holding for 3 extra months meant losing opportunity to earn additional three months of interest… maybe. Haha.

So, I think we all know why potential buyers would prefer the market to be less rosy. Happy convincing!