PETALING JAYA (Feb 1): The most positive scenario for the overall Malaysian property market in 2021 would be a slightly better performance than last year due to the start of the vaccination programme that would help in controlling the Covid-19 pandemic, according to Henry Butcher Real Estate chief operating oficer (COO) Tang Chee Meng.
In presenting Henry Butcher Malaysia’s annual report on the review and outlook for the Malaysian property market in 2021 titled “HB Perspective 2021”, Tang also noted that the recent spike in Covid-19 cases and the subsequent moves by the government to curb the spread of the pandemic may delay the industry recovery to next year.
PETALING JAYA (Feb 1): Sime Darby Property is offering an RM8,888 prosperity package on top of other deals in its Our Prosperous (Home, Harmony, Happiness) campaign. The campaign, which runs from Jan 30 to Feb 28, will offer purchasers selected properties of up to 18 months of “Your Instalment on Us deals. Potential homebuyers will concurrently enjoy maximum savings from the government’s Home Ownership Campaign (HOC) that is ongoing until May 31.
Sime Darby Property group managing director Datuk Azmir Merican said in a press release that the group is excited to kick off the year by offering valued customers and potential homebuyers an investment opportunity and a chance to own a home.
At the launch of Rahim & Co’s 2020/2021 market review earlier this week, Rahim & Co real estate agency chief executive officer Siva Shanker said the recent spike in Covid-19 cases has pushed all hopes of a strong market recovery to 2022, at best WITH the recent spike in Covid-19 cases, any projected recovery that had been slated for the local property market for 2021 will likely have been deferred.
However, that is not to say that there aren’t any opportunities to be tapped in a soft property market. At the launch of Rahim & Co’s 2020/2021 market review earlier this week, Rahim & Co real estate agency chief executive officer Siva Shanker said the recent spike in Covid-19 cases has pushed all hopes of a strong market recovery to 2022, at best.
The overall residential property market appears to have improved slightly in 3Q2020, says Savills Malaysia director of research and consultancy Amy Wong in presenting The Edge/Savills Klang Valley High-Rise Residential Property Monitor for 3Q2020.
“During the quarter under review, the total amount of loan applications and approvals for the purchase of residential property in the country have doubled compared with the previous quarter,” she says. The total amount of loan applications increased to RM88.21 billion in 3Q2020 from RM42.55 billion in 2Q2020, whereas the total amount of loan approvals increased to RM29.74 billion from RM12.16 billion in the same period. Wong says this signals that interest in property buying remains sturdy in the market.
Published on: Wednesday, January 27, 2021
By: Bernama
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Properties within the city or urban areas would see a strong demand and likely reduce the number of overhang property if prices were adjusted.
Kuala Lumpur: The number of overhang properties is expected to remain high in 2021 based on income level, locations and prices, according to Rahim & Co International Sdn Bhd.
Its research director Sulaiman Saheh referred to Rahim & Co’s Property Market Review 2020/2021 which showed that three states, Johor, Selangor and Kuala Lumpur recorded the highest numbers of overhang properties at 33,000 units, 8,700 units and 7,800 units respectively.
Other states such as Perak and Penang also posted higher numbers at around 4,000 units each.