On Tuesday this week Malaysia government announced 20 sen rise in the price of RON95 petrol and diesel. Before the revision, the price for RON95 was RM1.90 per litre and RM1.80 for diesel. The price increase for RON95 was in 2010. The chain reaction has been fast with newspaper announced new homes to cost 10% more as been reported by Real Estate and Housing Developers Association of Malaysia president Datuk Seri Michael Yam Kong Choy. To solidify his statement further he mentioned that it's compounded by absenteeism among foreign workers because of the nationwide crackdown on illegal immigrants as developers have to pay more for labour to meet contractual deadlines, failing which they will be penalised. That's true if the sales and purchase agreement(SPA) been drafted towards HDA guidelines. Commercial building won't have that effect.
It was reported that the Penang Master Builders and Building Materials Dealers Association says it expected construction costs to rise by 3% to 5%. Association president Datuk Lim Kai Seng said the cost of transportation was likely to rise 10% to 20%, and the prices of sand and cement by between 5% and 10%. He said that cement now cost RM17.50 per 50kg while sand sold for RM70 per cubic metre.
While new developments might increase in price, the sub sale(secondary property) might stabilize in price at the moment. There'll be MASPEX on 27-29 September 2013 at Penang Times Square, Penang(2nd launch: northern region).
MASPEX or Malaysian Annual Secondary Property Exhibition is a new platform organized by MIEA to further its memberships through consolidating under one roof of Real Estate Agencies to offer their services and listings to public in general.
PS: 1st launch: central region was held from 12-14 April 2013 at Tropicana City Mall, Petaling Jaya.
Malaysia's Petrol Trend: From 1990s to 2013(updated)
(Sen Per Litre)
| DATE | RON97 | RON95 | RON92 | DIESEL |
| Before 1990s | 110 | 106 ( ) | 65.1 ( ) | |
| 20-Oct-2000 | 120 (+10) | 116 (+10) | 70.1 (+5) | |
| 20-Oct-2001 | 130 (+10) | 126 (+10) | 70.1 ( ) | |
| 01-May-2002 | 132 (+2) | 128 (+2) | 72.1 (+2) | |
| 01-Nov-2002 | 133 (+1) | 129 (+1) | 72.1 ( ) | |
| 01-Mar-2003 | 135 (+2) | 131 (+2) | 76.1 (+4) | |
| 01-may-2004 | 137 (+2) | 133 (+2) | 78.1 (+2) | |
| 01-Oct-2004 | 142 (+5) | 138 (+5) | 83.1 (+5) | |
| 01-Apr-2005 | 142 ( ) | 138 ( ) | 88.1 (+5) | |
| 01-May-2005 | 152 (+10) | 148 (+10) | 108.1 (+10) | |
| 31-Jul-2005 | 162 (+10) | 158 (+10) | 128.1 (+20) | |
| 28-Feb-2006 | 192 (+30) | 188 (+30) | 158.1 (+30) | |
| 05-Jun-2008 | 270 (+78) | 262 (+74) | 258 (+100) | |
| 23-Aug-2008 | 255 (-15) | 240 (-22) | 250 (+8) | |
| 25-Sep-2008 | 245 (-10) | 230 (-10) | 240 (-10) | |
| 15-Oct-2008 | 230 (-10) | 220 (-10) | 220 (-20) | |
| 01-Nov-2008 | 215 (-5) | 205 (-5) | 205 (-5) | |
| 18-Nov-2008 | 200 (-15) | 190 (-15) | 190 (-15) | |
| 03-Dec-2008 | 190 (-10) | 180 (-10) | 180 (-10) | |
| 16-Dec-2008 | 180 (-10) | 170 (-10) | 170 (-10) | |
| 12-May-2009 | 180 ( ) | 175 | 170 ( ) | |
| 01-Sep-2009 | 205 (+25) | 180 (+5) | 170 ( ) | |
| 16-Jul-2010 | 210 (+5) | 185 (+5) | 175 (+5) | |
| 02-Nov-2010 | 215 (+5) | 185 ( ) | 175 ( ) | |
| 01-Dec-2010 | 230 (+15) | 190 (+5) | 180 (+5) | |
| 05-Jan-2011 | 240 (+10) | 190 ( ) | 180 ( ) | |
| 01-Feb-2011 | 250 (+10) | 190 ( ) | 180 ( ) | |
| 02-Apr-2011 | 270 (+20) | 190 ( ) | 180 ( ) | |
| 05-May-2011 | 290 (+20) | 190 ( ) | 180 ( ) | |
| 16-Jun-2011 | 280 (-10) | 190 ( ) | 180 ( ) | |
| 05-Apr-2012 | 290 (+10) | 190 ( ) | 180 ( ) | |
| 07-Jun-2012 | 280 (-10) | 190 ( ) | 180 ( ) | |
| 05-Jul-2012 | 260 (-20) | 190 ( ) | 180 ( ) | |
| 24-Aug-2012 | 270 (+10) | 190 ( ) | 180 ( ) | |
| 06-Sep-2012 | 300 (+30) | 190 ( ) | 180 ( ) | |
| 27-Feb-2013 | 270 (-30) | 190 ( ) | 180 ( ) | |
| 07-Mac-2013 | 290 (+20) | 190 ( ) | 180 ( ) | |
| 22-May-2013 | 270 (-20) | 190 ( ) | 180 ( ) | |
| 03-Sep-2013 | 270 ( ) | 210 (+20 ) | 200 (+20) | |
| 05-Sep-2013 | 285 (+15 ) | 210 ( ) | 200 ( ) |
16-Jul-2010 – No more subsidy for RON97, the price will be subjected to the current price of crude oil (RM2.10 as of 7/23)
This article has been written by VULCAN INT'L Real Estate Research Institute http://www.vulcanresearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://www.vulcaninternational.blogspot.com .
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