Posted on 18 February 2013 - 05:40am
Ee Ann Nee
sunbiz@thesundaily.com
KUALA LUMPUR (Feb 18, 2013): House prices and sales in Malaysia are set to climb this year as all signs are pointing to an optimistic economy, said PropertyGuru's newly-appointed country manager for Malaysia, Gerard Kho.
"There will probably be an increase in activity (transactions) from buyers this year, as many of them weren't sure where the market was going last year (and held back their purchases) due to political issues," he told SunBiz in an interview.
Kho does not expect the upcoming election to affect the property market as he has witnessed several "big investor groups" making en bloc acquisitions in key areas towards the end of 2012.
"Investors of that level would not come in to buy unless they know there's a lot of upside in the market. With these groups of investors coming in, it gives us the confidence that they know what would happen even where there is a change in government. They've weighed it (the risk) out."
Kho believes that regardless of who wins the election, the property market is going to see a faster momentum, driven by domestic demand.
As property transactions were less last year, Kho also said 2013 could be a catch-up year.
"In terms of pricing of properties, key areas such as the Klang Valley will continue to go up if there is not much pressure from sellers to dispose of properties. From that perspective, if pricing is not as good as it should be, they'd just hang on to their properties, as there would be no reason to sell."
On property hot spots, Kho said: "Any property that is less than 10km to 12km from the town centre is going to do well."
"Same goes with those along major highways. Any property in the Klang Valley such as Serdang, Klang and Sungai Buloh would do well, as well as Damansara Heights and Mont Kiara."
PropertyGuru Group CEO Steve Melhuish said Iskandar Malaysia in Johor is also set to benefit from Singapore's recent rounds of property cooling measures.
"They (measures) are bringing to a halt a lot of buying activities in Singapore, but are also pushing buyers out of Singapore. The number one location for Singaporean buyers is Malaysia and the number one location is Iskandar."
Melhuish said there is a marked increase in project marketing and buying activities in Iskandar by Singaporean buyers and by foreigners living in Singapore not just for investment but also for relocation.
"We're seeing Singaporeans increasingly relocating, swapping a tiny three or four-room HDB to a 3,000 sq ft bungalow in Iskandar," he added, noting that the changes in the last six months have drove up property prices in Iskandar.
Source reference link: http://m.thesundaily.my/news/615111
Back to Main Page: www.VulcanPenangProperty.blogspot.com | International Page:www.VulcanInternational.blogspot.com
Ee Ann Nee
sunbiz@thesundaily.com
KUALA LUMPUR (Feb 18, 2013): House prices and sales in Malaysia are set to climb this year as all signs are pointing to an optimistic economy, said PropertyGuru's newly-appointed country manager for Malaysia, Gerard Kho.
"There will probably be an increase in activity (transactions) from buyers this year, as many of them weren't sure where the market was going last year (and held back their purchases) due to political issues," he told SunBiz in an interview.
Kho does not expect the upcoming election to affect the property market as he has witnessed several "big investor groups" making en bloc acquisitions in key areas towards the end of 2012.
"Investors of that level would not come in to buy unless they know there's a lot of upside in the market. With these groups of investors coming in, it gives us the confidence that they know what would happen even where there is a change in government. They've weighed it (the risk) out."
Kho believes that regardless of who wins the election, the property market is going to see a faster momentum, driven by domestic demand.
As property transactions were less last year, Kho also said 2013 could be a catch-up year.
"In terms of pricing of properties, key areas such as the Klang Valley will continue to go up if there is not much pressure from sellers to dispose of properties. From that perspective, if pricing is not as good as it should be, they'd just hang on to their properties, as there would be no reason to sell."
On property hot spots, Kho said: "Any property that is less than 10km to 12km from the town centre is going to do well."
"Same goes with those along major highways. Any property in the Klang Valley such as Serdang, Klang and Sungai Buloh would do well, as well as Damansara Heights and Mont Kiara."
PropertyGuru Group CEO Steve Melhuish said Iskandar Malaysia in Johor is also set to benefit from Singapore's recent rounds of property cooling measures.
"They (measures) are bringing to a halt a lot of buying activities in Singapore, but are also pushing buyers out of Singapore. The number one location for Singaporean buyers is Malaysia and the number one location is Iskandar."
Melhuish said there is a marked increase in project marketing and buying activities in Iskandar by Singaporean buyers and by foreigners living in Singapore not just for investment but also for relocation.
"We're seeing Singaporeans increasingly relocating, swapping a tiny three or four-room HDB to a 3,000 sq ft bungalow in Iskandar," he added, noting that the changes in the last six months have drove up property prices in Iskandar.
Source reference link: http://m.thesundaily.my/news/615111
Back to Main Page: www.VulcanPenangProperty.blogspot.com | International Page:www.VulcanInternational.blogspot.com
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