Outlook for property market 2022. Views from many property industry player
What is my thought for the property market in 2022?
A few weeks ago, I was speaking in Penang and was asked what would be my personal view for the property market in 2022. I shared that as property owner, I would hope for the property market to be better so that the price will be moving upwards. I want to sell at least one property in 2022. However, as a property investor, I would hope for the property market to give me some good opportunities to buy. I hope to also buy another property in 2022. So, am I in a dilemma? Haha.
Anyway, the below would be the views from many industry players about the property market for 2022. The full article is here: Article in propertyhunter.com.my The views also come from some of my friends as follows: Adrian Un, Property Advisor, Author and CEO of Skybridge International, Dr Victor Gan, The Property Doctor, Datuk Chua Soon Ping, President of SHAREDA (Sabah Housing And Real Estate Developers Association), Miichael Yeoh, Property & Mortgage Advisor, Enoch Khoo, Director & Group Chief Strategist at PropertyHub Sdn Bhd. Many more yeah. Read it in full here: Article in propertyhunter.com.my
As for my views, it is as below:
The property market has been affected by Covid-19 since March 2020. People who needed to buy a property would have had to think thrice. Many real estate agents were suffering when lockdowns were implemented. Many property developers delayed new launches and even had to close their sales galleries. All these slowed down the property transactions in Malaysia for 2020.
In H1 2020, we saw just 115,476 property transactions. This was lower versus H1 2019, 2018 and 2017. With the reopening of the economy and lifting of lockdowns, the H1 2021 saw total transactions of 139,754. This is showing a recovery.
What will happen in the future is anyone’s guess with Omicron starting to flare up but if we look at the property transactions during the lowest point of H1 2020, we need to realise that Malaysia’s property market remains very robust and supported by many factors including demographics and a rapidly changing economy into a higher income economy.
This is why I am optimistic that the numbers for 2022 will show that Covid-19’s effects will lessen and the property market will continue to recover. On a personal note, from March 2020 till December 2021, I did purchase a few properties. Happy viewing and deciding.
— end of my view —
Opportunities will appear when we look for it versus just waiting without any action
If we say we want to buy a property to rent to students, did we drive around some colleges and universities to know the area and available properties better?
If we say we want to buy a property for short-term rental, have we gone to online sites and check out the popular places which everyone loves to rent?
If we say we want to upgrade and needed a bigger sized home, have we looked a little further away versus just the usual mature neighbourhoods and hoping for a miracle?
Opportunities will appear once we start doing something about it. Else, it’s just pure waiting. If that’s the case, stop saying we want to find opportunities.
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