A good friend asked me the other day. I noticed you also shared about manufacturing numbers, the GDP growth numbers etc besides just property related articles. Why not just focus on property related articles? I laughed. Seriously, do we really buy property by focusing on property market alone? We do not need to know about all the big happenings that may affect the property market? When economy is doing badly, how can the property market be performing? If the biggest economy faces another uncertainty, it will certainly be contagious and the world will have to face it together, not just that one country.
Actually, we should also not look too far away. Domestically, there are so many things that could also affect the property market. Many still do not want to realise that MRT will change many areas. In my latest chat with some colleagues just a day ago, there were still not open to any newer areas and would prefer to only buy those great locations of today. They were still fixated on affordability; anything below RM600,000 even if the size is only big enough for a single or at best a couple.
As for apartments below RM300,000 some prefer not to look at it at all, saying they are usually run-down or extremely far away and only suitable for those with no other choice. I think everyone has forgotten how places like Sunway, Damansara Mutiara or even Desa Parkcity started. In fact when Desa Parkcity was completed, there were still AVAILABLE UNSOLD units! Haha. Anyway, it’s ok. Greater KL is indeed by far a bigger place compared to many of the small cities around the region. Choices are still aplenty and growth will still continue. I have told many friends that it would not be within my time to see KLites having to stay in a room of 180 sq ft called home and having to pay millions for them.
Anyway, there are reasons why economists and top analysts are paid much higher than many people. They read, research and analyse more than us. If only property investment is only about reading property news and nothing else, many of us would have become property speakers. 🙂 By the way, if the property speaker that you happen to listen to does not even know anything about Non-Performing Loan, Unemployment Rate, GDP growth or even what’s happening to the world outside, I suggest to go for a cup of coffee instead. I am still trying my best to keep up; reading more news beyond just property. What I share would also serve as a reminder to me and that’s why I share.
written on 9 Oct 2016
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