Property prices around the world?
I have presented many times that I like the Malaysian property market because we are considered a laggard. The reason is simple. By looking at all the happenings at the advanced property markets and understanding what’s happening over there will give us an indication of what may happen here. Of course, not everything which happened there would happen here but please do remember that if the world did NOT become obsessed with property investment, then Malaysia’s property market would have remained almost the same the last 20 years. Anyway, let’s just look at some latest news today from 4 different countries, all are considered advanced property markets if compared to Malaysia.
#1 is my favourite place when it comes to getting a degree. United Kingdom. (Yes, I am biased, haha). UK: Article in theguardian.com – UK property sales at 16-year high as house prices soar Buyers and sellers in March were in rush to complete deals before end of stamp duty holiday. Nicky Stevenson, the managing director at the national estate agent group Fine & Country, said: “The property market remains in a parallel universe at odds with the wider reality everyone has been living. It’s been a gloom-defying 12 months, given that last March, when the first lockdown arrived, the market seized up, mortgage products were withdrawn and everyone held their breath.” Please read full article here: UK: Article in theguardian.com – UK property sales at 16-year high as house prices soar
#2 is this largest economy in the world which wants to stay largest. US: Article in bloomberg.com – Home Prices Surge Most Since 2006 With Tight Inventory. U.S. home prices soared the most in 15 years, with low mortgage rates and a scant inventory of properties to buy fueling a tight housing market. Nationally, the S&P CoreLogic Case-Shiller index of property values climbed 12% in February from a year earlier, the biggest jump since 2006. That followed an 11.2% gain in January. Please read full article in bloomberg.com – US: Article in bloomberg.com – Home Prices Surge Most Since 2006 With Tight Inventory.
#3 is the country a lot of Malaysians love to visit and send their children for a degree. Melbourne, Australia. Article in afr.com – Melbourne’s median house price passes $1m for first time Melbourne’s median home price cracked the $1 million mark for the first time after a 9 per cent surge in value through the March quarter, Real Estate Institute of Victoria data has revealed. The post-lockdown spike was the biggest price increase in metropolitan Melbourne since late 2009, following the global financial crisis, and brought the median house price in the city to $1,004,500. Please do read the full article here: Melbourne, Australia. Article in afr.com – Melbourne’s median house price passes $1m for first time
#4 is the country right next to us. I prefer to look at them as a partner and not a competitor. Article in channelnewsasia.com – Private home prices beat flash estimates to rise 3.3% in Q1, boosted by landed properties SINGAPORE: Private home prices in Singapore rose 3.3 per cent in the first quarter of the year, topping flash estimates released earlier in the month, on the back of strong demand and costlier transactions, analysts said. The private residential property price index increased to 162.2 points in the first quarter of 2021, up from 157 points in the last quarter of 2020, according to real estate statistics released by the Urban Redevelopment Authority (URA) on Friday (Apr 23). Please do read the full article here: Article in channelnewsasia.com – Private home prices beat flash estimates to rise 3.3% in Q1, boosted by landed properties
Today’s performance is not tomorrow’s guarantee
What we must know is that just because the property market seems hot and prices seem to be moving upwards, there’s no guarantee that the same situation will continue to prevail. Let’s remember that in 1998, home prices dropped by double digits within 1 year. We also have to be savvy to the fact that if we look long enough, the the trend for property prices thus far has been to go up. Slowly or Faster in some countries does not matter, the trend is upwards. As for future, I have no predictions. I just know that my property investment journey will continue.
Happy joining me. Else, remember to invest your money somewhere instead of spending it all away.
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