Knight Frank: 2019 will be a good year for property
Statistically speaking, when I write negative stuffs, the number of clicks are higher. So, this article may get fewer clicks. Knight Frank Malaysia says that the sentiment in Malaysia’s property market will improve in 2019. The reason is due to the many policies outlined in budget 2019 which will strengthen demand, especially from first-time homebuyers. In a statement, it said, “The property market in Malaysia experienced a pick-up in activities during the second half of 2018, as pockets of opportunities can be discovered in different areas across the region, barring any external shocks such as a global economic slowdown.” Full article here in TheMalayMail.com
While the residential sector seems to be rebounding, it’s not the case for the office and retail markets. Knight Frank said that these two will be challenging because of elevated supply levels. It also expects a higher level of land banking activities among industrial property developers. Moving forward, Knight Frank Malaysia says that Malaysia will see a new large-scale industrial developments taking shape in strategic locations due to robust demand for warehouses. For example, the proposed Free Trade Zone (FTZ) in Pulau Indah is expected to generate interest from manufacturers and logistics operators alike. “All in all, Malaysia’s industrial property sector, which has been the silver lining for Malaysia’s subdued property market in recent years, is set to continue its resilience.” Please refer to the full article in TheMalayMail.com
I continue to believe that the current issue in the market is all about sentiment instead of people losing their jobs and thus unable to afford their mortgages. With a median age of just 29, Malaysia is a very attractive property market for investors. The demand is definitely far higher than the current supply but let’s be savvy to the fact that the supply must also meet what the people actually demand. It’s about building the right homes; quality with affordability. Those days when people thought the market could rise forever is many years ago. Buy objectively, then everything’s gonna be just fine.
source from kopiandproperty