REHDA members anticipate a better market outlook in the first half of 2013 compared to the second half of 2012
Members of the Real Estate and Housing Developers' Association Malaysia (REHDA) anticipate a better market outlook in the first half of 2013 compared to the second half of 2012, according to the Edge. 170 of REHDA's 1000 members responded to the latest survey.
The 'optimism level' of respondents increased to 32 percent for the first half of 2013, despite uncertainties surrounding the upcoming general election. This compares with 28 percent for the second half of 2012 and 29 percent for the first half of 2012.
"I think there will be more certainly after the election. Fundamentally, there is still demand for residential housing. Politics may not factor in so significantly [to affect demand] – perhaps initially, but otherwise I think it'll be business as usual," said Datuk Seri Michael Yam, REHDA president.
According to the survey, the number of planned property units is on the rise, increasing from 11,826 units in the first half of 2012 to 16,228 units in the second half of 2012. A total of 21,409 units are planned for the first half of 2013.
The survey results show that the market is chiefly driven by domestic buyers, and 71 percent of purchases made during the second half of 2012 were by the end user.
"Everything has its price. Our property prices are cheaper than Singapore's, so those who have come extra cash on hand will start looking towards Kuala Lumpur," said Yam.
"I mean, this is what is happening in Johor Baru. It's just that we have not been looked at as being a global city due to negative perceptions" he added.
However, some negative trends were also highlighted in the survey's results.
67 percent of respondents had unsold units six months after the launch date. Unsold units were chiefly made up of properties priced over RM500,000 (US$161,524) in Selangor, Kuala Lumpur, Johor and Penang.
Respondents highlighted lack of labour as having an effect on supply, and were concerned about the growing cost of construction materials.
Yam also pointed out that there was a discrepancy between the number of marriages and the amount of units reaching completion, explaining that a marriage generally means the creation of a family unit that requires new housing. Figures from 2011 demonstrate that only 65,866 residential units were completed compared to 207,553 marriages registered.
"This is a trend I've noticed over the last two years. There is a shortfall in the supply of houses against demand, so there is going to be a lot of untapped demand. My view is that we need to resolve this by producing more new houses," he said.
Siva Shanker, deputy president of the Malaysian Institute of Real Estate Agents, pointed out that new loan regulations imposed by Bank Negara Malaysia were affecting people's ability to buy property.
"There are definitely willing sellers and buyers who want to acquire. The problem tends to lie in the new responsible lending guidelines imposed by Bank Negara [in early 2012] that can result in loans not being approved," he said.
Article source: http://www.thethailandlinks.com/2013/02/21/rehda-reports-stronger-market-sentiment-for-2013/
0 comments:
Post a Comment