This Week In Property (Ending August 2nd, 2013)

Will prices of property come down in the second half of 2013? There are some indications that the bull run in the property market will probably come to an end – especially in lieu of the “cooling measures” enforced by the Bank Negara recently. Difficulty to get financing will be a concern, and there could be a possibility of the introduction of other policies to contain household debt levels. We are also not ruling out the elimination of DIBS in the coming months.

While the new launches of high end high rise condominiums in the city (often characterised by the RM1,000 PSF price point) are tapering off, it seems that the suburban areas and the “city fringes” are the new focus – with the introduction of more affordable properties in the region of RM600 PSF and below. Watch out for a new GoodPlace.my guide on “fringe” real estate soon. Also, the Iskandar market is expected to continue growing with no signs of oversupply.

Happenings. SP Setia head honcho Liew Kee Sin gave a rather spirited talk to students at Taylor’s University on Thursday on how entrepreneurial spirit pwns technical knowhow: “(We broke into the London property market) not because we are better than them technically but because we have strong entrepreneur determination.” Awesome. Kinda reminds you of Elon Musk – the man who hustled his millions on the Internet but is now building electric cars and launching rockets to Mars. But I digress.

New-ish Properties. Seems that new launches are being taken up at a faster rate than norm – probably in anticipation of further cooling measures by the BNM. Most notably, first phase of The Fennel at Sentul East by YTL was fully sold in merely two days (our coverage here). Launched last December, the first phase of the LakeClub ParkHome development in Rawang is fully sold, with the second and third phases to be available for booking soon. Remember what we told you about “fringe” locations? The serviced residences at Eight Kinrara by I&P Group reported a rather healthy 71% take up rate in this Friday’s Financial Daily; the developer expects takeup of 90% by the end of August. So we shall see.

Views & Opinions. Milan Doshi went on BFM to talk about buying the “right” property in this 15 minute interview – check it out. Bottom line: no “one size fits all” approach exists; you gotta discover your own “investment profile”. Our favourite local financial site iMoney has published this rather informative infographic on home refinancing – if you’ve never shopped around for a good home loan deal then it’s probably time to do so.

Upcoming Events. Another round of iProperty Expo on August 16th to 18th at MidValley. I was at the last one at KLCC Convention Centre which was a rather ho-hum affair; “expo fatigue” was in the air. Swengtee Club is holding a seminar at Cititel MidValley on this Sunday August 4th on how to invest in property post the general election (call 03-22888588). For those interested in Danga Bay (not to be confused with Phang Nga Bay), Johor Bharu, Country Garden will be holding a three-week showcase of its development starting from August 11th. Call 012-7277353 for more information.

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About Khai Yin

When I am not writing for GoodPlace.my and helping my readers find properties though the DealMatcher service, I spend time doting on my three kids: Wenyi, Qinyi and Eian. My personal stuff, some published essays and contact details can be found at khaiyin.com

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