Property Prices are rising again or the culprit is actually the salary rising too slowly?

Property Prices are rising again or the culprit is actually the salary rising too slowly?

Do you feel that the property price is already too high? Double storey landed terrace homes starting from close to RM1 million? Must be a joke inside a dream, maybe? Well, in some areas, this same property is now RM1.6 million or higher. Surely only the landed properties can be at this price?

Surely the high-rise will stay at the same level the day we bought? Well, there’s something called inflation which will usually affect all goods and services and including property prices too. So, assuming the price for high-rise does not rise as fast as that of landed terrace homes, it will still continue to rise too…

Referring to the latest chart from globalpropertyguide.com, prices are on a declining trend. Take a look below. It is still above the zero line but you can see the number dropping lower if we take 2022 versus 2024. The ‘crazy’ price increase in 2010 (above 5%) until 2018 (5%) is no longer happening. These days, prices are rising below the 5% mark. Meanwhile the most recent data showed that price are just rising slightly above the 0% line.

What about other property markets then? The more prominent ones for example?

Based on all the recent news articles. Refer below. Links are provided too.

UK folks have it harder. Unaffordable seems to be the trend. Meanwhile Sydney and Melbourne folks will have better days to buy a property in 2025. Hong Kong’s property market remains challenging. I have seen this first hand because all the price stickers outside the real estate agencies are all showing a slash followed by how much the price has dropped. Within the past few years, I have been to Hong Kong at least a few days every year. I was even there just after they reopened due to Covid.

Stay focused, these are average stats

Some people will continue to share with me that they managed to sell their homes at a higher price than when they bought. This is the same for me. Thus far, I have been lucky I think, I have never sold a property below the price I bought, even when I bought the property in 2018.

If you view a home and you think the price is right, then that’s the right price. If you have evaluated the home and the neighborhood and the overall township plan, chances are you are right. Waiting is not a good game to play for a good property. Meanwhile waiting for a bad property is not something anyone should play. Happy viewing and buying.

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