From: http://thinkproperty.com.my/realestate/
Zerin Properties, Previndran Singhe, gave his views on the outlook for Malaysian property for 2008. The key bullet points that we took away from the conference were:
1) Less property transactions expected in 2009 than in 2008
2) Landed properties in high-end areas will perform well
3) Only selected condo developments in the KLCC will do well
4) Foreign interest will remain strong due to Malaysia's relatively lower prices
5) Office market demand will remain firm
6) Overall, the Malaysian property market will be resilient because prices did not rise in the last few years nearly as fast as in many other countries
Previndran Singhe also highlighted the key risks for Malaysian property being: 1) Falling oil prices 2) Spiraling credit card NPLs
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2) Landed properties in high-end areas will perform well
... maybe.
Maybe not.
Cause when you think about it, those properties are actually the WORST hit ones during wealth destruction periods.
If you look at other countries, the LOW cost housing is doing better... since during a recession, people move from high cost to low cost housing.
Also... conflict of interest maybe. Cause the high end property developers... are the RICH companies. Who of course will insist that THEIR nice expensive new projects are limelighted as very good.
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