KUALA LUMPUR (Dec 17): Hong Leong Investment Bank (HLIB) Research expects property developers to continue facing a tough operating environment in 2021, with developers cautiously carrying out launches and offering discounts on their products.
The research house’s analyst Lim Ken Wern said in a note today that with the Home Ownership Campaign (HOC) ending on May 31 next year, developers will need to continue providing goodies in order to attract bookings.
“Our channel check revealed that listed developers are garnering a sales conversion rate of about 50% and that some buyers still struggle to obtain their desired financing from banks,” he said.
Nonetheless, given the low-base impact of 2020, he said 2021 may potentially see improved transaction volumes when the economy recovers from the ongoing Covid-19 pandemic.
Published on: Wednesday, December 16, 2020
By: Malay Mail
Text Size:
Country manager Sheldon Fernandez said purchasers must not only consider the cost of owning a property but also whether they can afford it while managing other expenses. Picture by Yusof Mat Isa
Kuala Lumpur: Property portal PropertyGuru Malaysia said the current market conditions are favourable for house buyers to look for bargain deals but caution should be a prime factor in any decision-making process.
Country manager Sheldon Fernandez said purchasers must not only consider the cost of owning a property but also whether they can afford it while managing other expenses.
Published on: Wednesday, December 16, 2020
By: Malay Mail
Text Size:
Country manager Sheldon Fernandez said purchasers must not only consider the cost of owning a property but also whether they can afford it while managing other expenses. Picture by Yusof Mat Isa
Kuala Lumpur: Property portal PropertyGuru Malaysia said the current market conditions are favourable for house buyers to look for bargain deals but caution should be a prime factor in any decision-making process.
Country manager Sheldon Fernandez said purchasers must not only consider the cost of owning a property but also whether they can afford it while managing other expenses.
channel for the latest stories and updates.
The second half of 2021 might see housebuyers’ interests improve again, driven by improved economic and public health climate, said PropertyGuru in their recent Property Market Outlook 2021 report.
The property portal sees that Malaysia’s economy will gradually improve next year, which will positively affect the property market as well, although it will be at a slower pace.
The property market is expected to improve in the second half of 2021, partly driven by an improved economic and public health climate. Strong existing demand for homeownership will likely be unlocked and we will see healthy growth in property transactional activity. However, the recovery is expected to be gradual as we acclimatise to a post-Covid reality.