News: Property Market To Remain Flat In The Next 12-18 Months

Aug 3, 2020

MyProperty Data Sdn Bhd (MPD) expects the property market to remain flat over the next 12 to 18 months due to the stagnant growth of prices.

MPD manages PropertyAdvisor.my, a platform for investors, home buyers or agents on latest market information, property transactions and analytic tool.

“We anticipate the high-end segment to remain stagnant during a downturn. Properties under RM500,000 will first to recover for the residential,” said Thor Joe Hock, Chief Executive Officer of MPD as quoted by the New Straits Times (NST).

“For commercial, companies may need to reassess their needs for office space.”

While there may be consolidation in the next 12 to 18 months, he explained that they do not see much rental growth.

Check out these top 5 popular neighbourhoods for your next property search! 

Over at the industrial market, an uptake in transaction was posted for space (logistic purposes).

“Currently, this is the buyer’s market as supply exceeds demand, giving buyers an advantage over sellers in price negotiation. Price has been stagnant and falling in the past few years, particularly in the residential segment across the board,” he said.

He emphasised, however, that there is no right time to acquire a house since it would depend on the financial ability of the buyer, reported NST.

PropertyAdvisor data analysis showed that Kajang-Semenyih and Klang (Bandar Bukit Raja) were the top two most transacted areas within the Klang Valley. From 2018 to 2019, landed property prices within these areas ranged between RM550,000 and RM737,888.

Transactions for terrace homes dominated these two areas, with Bandar Bukit Raja registering 737,888 units sold in 2018 and 648,944 units in 2019. Kajang-Semenyih, on the other hand, posted 579,000 units sold in 2018 and 550,000 units in 2019.

PropertyAdvisor data analysis also revealed that an average of 180,000 to 220,000 property transactions were registered in Malaysia per year, 80% of which were sub-sales, while the remaining 20% were for new landed properties.

 

Check out these latest project reviews today! Or read our helpful Guides to learn all about the various property buying, selling and renting tips!

spacer
agent image
agency logo
Candy Soon
Senior Negotiator
THE ROOF REALTY SDN. BHD.
csproadvisory1628@gmail.com
(+60) 12-2227738