DOWN DOWN & DOWN: BUYERS TO DICTATE PRICES OF MALAYSIAN PROPERTIES IN 2017 – RESEARCH FIRM

KUALA LUMPUR – The local property market, which saw a decrease in sales last year, will continue to be subdued this year, the research arm of property consulting firm Rahim & Co said today.
“The property market is expected to remain subdued for a period of 12 to 18 months,” the firm told a news conference here on in its summary of findings on the Property Market Review for 2016 and 2017.

The firm added that it will be a buyers’ market as there will be a period of adjustment and price consolidation to close the gap between prices demanded by sellers and those looking to buy.
“Affordable housing will continue to be popular this year where the people are facing rising cost of living especially for young families,” it said.
But the firm also expressed concern that there may be an oversupply in the commercial sector.

 

While residential transactions across the country had decreased, retail space had continued growing in most of the states, according to the review.
About six million square feet of new mall space is expected to come up in the next couple of years.
“Absorption of new supply coming into the market is expected to slow down and capital values as well as rental rates are to remain competitive,” it said.
Retail sector is also expected to face “tougher times” due to declining consumer sentiments, the firm said.
– Malay Mail


Comments


Please get real as the Chinese are not buying properties for investment here but overseas where their hard earn money is more secure. Only property they are going to buy is a simple house to live in and a shop to do business and nothing extra. With Ringgit on freefall , best to invest money overseas as the money will grow with bank interest , increasing property prices and also apperication of foreighn currency against Malaysian Ringgit.

Why invest in Malaysia and see the investest money depericate daily and lose 10 to 20% value against foreign currency tearly.


Only a dumb fool will do that and the Chinese are no dumb fools