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Malaysia property market. Still got people buy property meh?

keys

Malaysia property market. Still got people buy property meh? If you do not understand meh, it is okay. Just read the sentence without the meh. It works. If you understood, great. Haha. By the way, stop believing what you see on Facebook as the truth yeah. Due to the algorithm in order to maximise clicks / views, you will see what you want to see. That’s the danger unfortunately.

When you see what you want to see and you click on them, Facebook has more activities. That’s good for them. Simple fact. Just ask any digital marketer yeah. I am not one though. 😛

When people want to believe what they want to believe, let them be

Just a few weeks ago, someone was speaking to me and asked this question. “Actually under this current market, still got people buy property?” I asked, “what current market situation?” He answered, “This Covid-19 lah, everyone also scared. No one knows what will happen tomorrow.” So in order to explain his property related question, I need to also explain the Covid-19 situation currently.

By the way, Covid-19 is considered as under control. By the way, the lockdowns have been lifted and we could even travel inter-state. Oh yeah, I would have preferred the inter-state to only start end November but I am just a blogger, not the cabinet. Here’s my earlier view (even if it matters little) Click to read.

One more reason? That reason why people kept saying we are too slow in vaccinations (and refusing to acknowledge that it’s just so hard to get the vaccines…) Take a look at the below latest update from ourworldindata.org (Yes, this was the same website people used to show that we are so far behind everyone else in vaccinations)

Do not look too far down, we are really at the top and ahead of Italy… France… UK… Germany… United States… and more. This is why we allowed inter-state and at the same time EVERYONE MUST STILL WEAR MASKS because that is also the correct thing to do.

Image source: https://ourworldindata.org/covid-vaccinations

For people who prefers to look at facts, here’s the ACTUAL property market transactions in property market Malaysia

Yes… just within 2Q 2021, there were already over 92,000 property transactions. Surely someone must be buying and someone must be selling and banks are lending to most of these buyers. I seriously doubt majority of everyone can buy a RM500,000 property with cash. (Except the one who bought my Penang condo many years ago, that one was via lifetime savings; cash)

Yes, this is not full year number. This is just for 1 quarter. As for what’s happening quarter by quarter, do refer to the next image after the below.

Malaysia property market
Image source: https://napic.jpph.gov.my/portal/key-statistics
Image source: https://napic.jpph.gov.my/portal/key-statistics

Covid-19 will definitely affect the property market

Anyone telling us that Covid-19 has no effects on the property market has to be lying. Covid-19 caused unemployment, caused lockdowns, caused businesses to fail. How can it not affect the property market? How can it not affect the property transactions?

Now that you get the idea that Covid-19 will affect the property market and you know that the property transactions continue to happen despite the Covid-19 lockdowns, can you also see why I remain positive on the property market? One more simple understanding. People buy property because they want a place to stay and more importantly, they have a job which allows them to get their loans approved.

People who lost their jobs could not buy a property but they may still need a property. Else where do they stay? This is why Covid-19 will affect the property market by slowing it down tremendously but it does not change the fundamental need for property. Happy understanding.

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Next suggested article: Ikea Malaysia and the property market

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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