Headline

 



"No fire sale yet" in the property market, says real estate consultants

There are no fire sales on the secondary market, as of now. There are no fire sales on the secondary market, as of now.

Despite the slowdown in the property market, there are no fire sales on the secondary market because of the strong holding power of Malaysian buyers, said Stephen Yew, executive director of The One Property International Sdn Bhd.

The implementation of the Goods and Services Tax (GST) has caused the public to spend prudently, and the weak market sentiment has caused homebuyers to stand at the sidelines.

The wait and see approach of both buyers and sellers has turned the property market into neither a buyer’s nor a seller’s market, said Yew, who is also a real estate valuer and surveyor.

“The main factors are non-performing loans and job security. Many people are looking for fire sales but there are no fire sales. The fact is that the subsale market sees lower asking prices, and not lower transacted prices," said Yew after a briefing on theedgeproperty.com for The One Property International team in Mutiara Damansara today.

Yew noted this tension may break next year, if the ringgit falls below RM4.50 to the US dollar, because of the adjustments the construction industry would have to make to account for the increased cost of new projects.

“Malaysians have the perception that they can earn more by investing in new projects and the weakening currency will not have impact on it,” he said.

On which locations and development types would be most affected by the weakening currency, he said mature areas such as Petaling Jaya would be less affected, given their stable volume of transactions. However, high-rise developments will be impacted due to the sheer volumes these entail.

More than 45 real estate agents and negotiators attended the briefing at The Edge Media Group’s head office today.

Yew noted that some features of theedgeproperty.com, such as news, analysis and valuation provide value to both homebuyers and negotiators.

“These tools can help agents check the value of subsale properties. It also helps discerning investors do their research before buying properties," said Yew.

Tools and features of theedgeproperty.com include advanced analytics by area and property type, advanced analytics based on projects (sales transactions, asking rents, surrounding projects), a hot spot tracker and free property listings.

Real estate negotiator Claudia Phang said theedgeproperty.com would serve as a platform for buyers to get more information and recommendations on market trends and data.

“I will recommend it to my clients so they can read and get recommendations from the news and research.”

 

News Source: The Edge Property, 21 October 2015

Rate this item
(1 Vote)

13 comments

  • Josephciz
    Josephciz Tuesday, 15 August 2017 08:42 Comment Link

    online gambling casino best
    best online slots for money
    best new casino
    slots for money
    usa on line casino

    Report
  • ThomasDar
    ThomasDar Saturday, 12 August 2017 23:54 Comment Link

    real money slots usa
    fair online roulette
    online casino android
    roulette roulette
    beat online casino

    Report
  • ThomasDar
    ThomasDar Saturday, 12 August 2017 20:24 Comment Link

    casino live roulette online
    best online roulette for real money usa
    online casino games macau
    play online roulette wheel
    play online vegas casino

    Report
  • HaroldNix
    HaroldNix Saturday, 12 August 2017 14:17 Comment Link

    bonus bingo download
    new york casino online
    list of online casinos nj
    casino online roulette paypal
    brand new usa online casinos

    Report
  • HaroldNix
    HaroldNix Saturday, 12 August 2017 10:48 Comment Link

    online casinos for u
    online casino live game
    online gambling sites las vegas
    real vegas casino on facebook
    usa online casino slots

    Report
  • Logangog
    Logangog Friday, 11 August 2017 17:15 Comment Link

    can you buy generic cialis usa
    buy generic cialis online
    do cialis pills look like
    buy generic cialis online
    cialis wholesale uk

    Report
  • Careycleap
    Careycleap Thursday, 10 August 2017 16:18 Comment Link

    online gambling that accepts paypal
    play wolf run slot
    online video poker slots
    best casino machine online online slot
    keno online ziehung

    Report
  • LionelNog
    LionelNog Tuesday, 25 July 2017 17:41 Comment Link

    pills that look like cialis
    cialis generic
    cialis professional sale
    cialis generic
    buy cialis in mexico

    Report
  • Bookerutest
    Bookerutest Sunday, 23 July 2017 07:40 Comment Link

    safe take 200mg viagra
    viagra coupon
    price of viagra 100mg in india
    viagra pills
    is 25mg of viagra enough

    Report
  • LeroyNar
    LeroyNar Saturday, 15 July 2017 10:02 Comment Link

    cheapest cialis new zealand
    tadalafil 20mg
    cialis soft tablets
    cialis 20
    cheapest generic cialis no prescription

    Report

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

xxxlogo

At PTLM, everything we do is with integrity, commitment and innovation as to facilitate information dissemination so that you could make well-informed decision.

 

Subscribe With Us


Invalid Input

Most Popular

Recent News

Our Gallery