Pertama says property prices will rise by 25 percent.
Erm… who is Pertama?
Sorry, this is the first time I read about The Malaysian Real Estate Association which is known as Pertama. They have a prediction which is something I have not read about thus far. Yes, I do read news daily and this is the first time I heard of a prediction for such a huge increase in price. Do read what they have to say about property price in a recent article.
Article in malaymail.com The Malaysian Real Estate Association (Pertama) has reportedly said that property prices are expected to increase by 25 per cent — especially for homes valued RM500,000 and above — as the economy continues its recovery. Its president, Ismail Omar said this about the potentially increasing prices.
He said, “Especially houses priced above RM500,000 which are largely unsold when buyers are more likely to buy homes below RM300,000. So developers or owners are forced to sell at a lower rate to avoid selling at all. However, the situation is only temporary, as the Malaysian economy recovers, the housing market is expected to stabilise again with a price increase of around 25 per cent. So some people are aware of this, they are scrambling to buy a house now that the price has fallen before the value has risen.” Do read the full article here: Article in malaymail.com
By the way, anyone can predict yeah. There’s nothing wrong to predict.
I predict property price will continue to rise. I predict it will just follow the inflation rate when we look at the rate of increase over a long period of time. In other words, I am hoping that there are no sudden huge changes to property prices. It will not be a good thing for all home owners if the property price becomes too high suddenly yeah. Trust me.
Else do read why the mortgage crisis happened in that advanced country to know why unnecessary price increases will just ‘kill’ the market once the people suddenly realise that there is a limit to short term increase in salary and when salary does not rise as fast as price, the market will just need a correction. This is why I do not wish for high ups and high downs. Happy understanding.
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