I guess everyone who’s involved in the real estate industry knows that the market is slow. Somehow people are taking a longer time to decide what to buy. There’s good news ahead according to Knight Frank Asia Pacific Forecast 2019 that was released yesterday. Knight Frank shared that market sentiments are projected to improve as a result of the stamp-duty waiver on the instrument of transfer for first-time homebuyers that was announced in Budget 2019. As for the slight upward revision in stamp duty and real property gains tax rates, it is not likely to impact the market significantly. Here’s the Article in TheMalaysianReserve.com
Knight Frank also shared that more residential property launches could be expected in Kuala Lumpur (KL) next year but price wise, it will not be moving up too much because of the growing mismatch in supply and demand. As for the office sector, Knight Frank is predicting a tenant-led moving into 2019 as there is no immediate catalyst to boost demand. It says that landlords will continue to offer attractive leasing options due to competition to attract new occupiers and retain existing tenant. As for what we could focus, Knight Frank said non-traditional real estate investment sectors such as student accommodation, retirement living and build-to-rent in established mature markets will outperform the wider market. Article in TheMalaysianReserve.com
I continue to believe that the current market slowdown is more sentiment driven. (For those who could buy) This is because there are no widespread unemployment and every time I pass by cafes, I wonder why are there so many people who could continue afford a RM12 cup of coffee if the market’s truly as bad as what some people are saying. 12 x 31 days = RM372. This is over 12% the salary of the B40 household median income in Malaysia Happy following and hopefully what Knight Frank is predicting comes true in 2019.
written on 20 Dec 2018
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