Property Malaysia’s Wish List for 2006
We thought of doing this new year wish list for the Malaysian Property industry during January 1st, but only managed to do it now. With most company’s business year traditionally starting during the lunar new year, we thought this was still appropriate.
Judging from some of the predictions from the newspaper columnists, they are saying that this year will be a soft one for high end residential property. As for mid-priced houses, the views are mixed, but we are more inclined that it will be pretty much be the same as before.
This is the first part of the list for 2006, so here goes:
Cheap houses will remain cheap
Over the course of the post-financial crisis years, the bottom line price of 20′ x 70′ linkhomes has been creeping up. It’s still possible to find one for RM200k in the suburbs now, but we wish that it will not increase anymore. These basic home units are still very popular for entry level housebuyers, and will always be.
More REITs
It’s starting to take off slowly, with a trickle of corporations getting into the act. But we really need to see more of them to have a decent choice of imvestment and have a fair picture of their performance. With the government pushing for them, we’re optimistic.
More interesting and attractive packaging
Selling homes have become more and more competitive these days, especially with the number of developers getting into the act. This is especially so for higher priced homes above RM300k. By and large it is understood that any freebies or packages included in the home is generally priced in together, but sometimes ingenuity and thoughtfulness goes a long way to attract potential customers. Some packaging we can think of are security systems, in-house renovation and upgrading works, rebates for referrals, etc.
Watch out for part two coming up next.
