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MIEA: No downturn in 2015

November 21st, 2014 Leave a comment

The property market will not see a downturn in 2015, despite the slowdown over the past three quarters, said Malaysia Institute of Estate Agents (MIEA) president Siva Shanker.

He also expects the property market to pick up in 2016 and 2017. Siva was giving a talk at the Annual Malaysian Market Outlook — Rounding Up 2014 on Tuesday.

“The favourable outlook is due to a healthy national economy and low foreign investment exposure of 5% compared with Singapore’s 40%. We believe the property market will be consolidated in 2015 before peaking again in 2016 and 2017 based on the property cycle over the years,” said Siva.

Besides Siva, the property outlook on the three major property segments of the Klang Valley, Johor and Penang was presented by other MIEA representatives and Y Y Lau from JLL Property Services (Malaysia) Sdn Bhd.

In Penang, increased activity is expected in Simpang Ampat, Juru and Tambun on the mainland stemming from the second bridge which created additional access to and from the island, Penang airport and industrial areas.

MIEA Penang state branch chairman Mark Saw said investors will capitalise on the improved infrastructure.

MIEA Johor state branch chairman S Vadeveloo said the Johor property market will be healthy going into 2015 as investments are supported by positive economic growth in Malaysia and Singapore.

“This will help sustain demand. Although the slowdown is expected, it will be short term,” said Vadeveloo.

However, Vadeveloo is cautious about the sustainability of property prices in Iskandar Malaysia, especially for high rise-apartments and retail space.

“Ample supply and whether demand can keep pace with incoming supply is causing concern [over prices] of condominiums and retail spaces,” said Vadeveloo.

Meanwhile, landed homes will continue to be popular and should prices in the primary market continue to trend upwards, Vadeveloo expects buyers to veer towards the secondary market where prices are between 20% and 30% cheaper compared with similar products in the primary market.

Source: The Edge Markets

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  1. mei
    November 21st, 2014 at 12:59 | #1

    sales is too bad until an article is needed for a boost?

  2. david
    November 21st, 2014 at 16:10 | #2

    No transaction they eat what….now clean water also need to paid.

  3. Mainland
    November 21st, 2014 at 16:44 | #3

    Only the stupids will listen and believe that increased activity is expected in
    Simpang Ampat, Juru and Tambun on the mainland stemming from the
    second bridge. Trying to promote such “swampy and outskirt” area.

  4. micheal
    November 21st, 2014 at 17:54 | #4

    MIEA point of view is abit bias, well, it has been a quiet for awhile now for buy/sell of property in Penang as whole.

    It is expected to be even dull next year once GST is implemented. Imagine consumer products also facing challenges….then you think Property Sector is not affected.

    In my opinion prices of Property will be stagnant for the next few quarters. It wont dive, but stagnant with very thin volume of transaction.

  5. buyer
    November 21st, 2014 at 19:36 | #5

    Stupid guy.

  6. JJ
    November 21st, 2014 at 20:28 | #6

    2nd bridge is over rated. We drove on it last week and at times we were the only car driving on the bridge and it was 8pm.

  7. jong
    November 22nd, 2014 at 10:36 | #7

    I sympathy with those who bought properties in Sg.Ara/Relau/BayanBaru at historical high price thinking of making a quick buck, and then find that it is impossible to flip, some more everyone is talking about the new Batu Kawan growth now.

    You can condemn the 2nd bridge all you want and not face reality. But if you wake up now, just get rid of your south island properties at any price as long as you can find a buyer (the glut will be worse in coming years), then maybe there’s still some hope for you.

  8. gary
    November 22nd, 2014 at 11:48 | #8

    JJ :
    2nd bridge is over rated. We drove on it last week and at times we were the only car driving on the bridge and it was 8pm.

    Fully agreed! Dead town. Drive there using the super long winding 2nd link and take a look.

  9. kk
    November 22nd, 2014 at 12:59 | #9

    gary :

    JJ :
    2nd bridge is over rated. We drove on it last week and at times we were the only car driving on the bridge and it was 8pm.

    Totally agree!
    Fully agreed! Dead town. Drive there using the super long winding 2nd link and take a look.

  10. mike
    November 22nd, 2014 at 14:02 | #10

    Batu kawan is the unpolished diamond.

  11. 2nd bridge
    November 22nd, 2014 at 14:03 | #11

    2nd bridge is for racing and marathon run only, speed 200 can cross the bridge in 10min, marathon run go and back around 50km in 7 hours, thats all:-D

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