By Sharmilah Deviy
StarProperty.my Roadshow 2017 at Atria Shopping Gallery Speaker Malaysian Institute of Estate Agents (MIEA) past president Siva Shanker.
Citing data from the National Property Information Centre (NAPIC) and PPC International Research, Malaysian Institute of Estate Agents (MIEA) past president Siva Shanker claimed that the overall trend of volume in transactions of properties had declined at a steady pace with a major slump in the year 2014, with an estimated drop of 11%.
Siva said, “The current status quo isn’t very good either as the volume of transactions last year was only 320,425. However, the value of the of the transactions of properties was steadily on an increase till 2014, then in 2015 the prices plummeted from RM162bil to RM149bil.
However, there is a silver lining to this depressing news.
Siva said the price always acts in a cyclic pattern, and after hitting a rock bottom, the price is expected to recover soon after steadying itself.
“All in all, a great sign for buyers,” he said.
He added that the NAPIC data also showed that almost 63.4 % of the properties transacted are residential properties.
“When comparing the first quarter of 2016 and 2017, we can find that the property values have improved. This is another signal to buyers out there with regards to residential properties,” he said.
Siva Shanker said that the two main emerging trends in Malaysia real estate are properties with iconic development as well as inner city living. If investors are able to ride on this trend, it will be very profitable for them.
"When hunting for a property, some considerations have to be taken into account. The first would be the availability of amenities such as shops, schools, hospitals and other relevant establishments.
“Malaysians have a habit of trying to look for houses near to this kind of amenities, investing in such properties might just increase your luck to profit from it.
“Next, it would be public transportation. Buyers will consider the proximity of a public transport station to a property when purchasing a house.
“When investing, look for properties nearby to these stations. However, be aware that if the station isn’t conducive enough for the people to park and use the services, many might ignore these public transports,’ he said.
“If a station is confirmed to be built in the area or is under construction, the property prices in close proximity would have already increased, reducing one’s profit margin," he added.
For Siva, the idea is to “Buy first, wait for the city to come.”
He said, “People may soon be unable to afford houses near the city centre and move into the suburbs to search for properties.
“It will soon become a norm to those living further away to utilise public transportation as a method to get to work.
“Thus, investing in areas which include north of Selangor or in Nilai would be profitable in the long run,” concluded Siva.
One piece of advice from Siva Shanker is to always remember that investing in a property is a long term play. One should always study how the market works before diving in for a property.
Siva spoke at recently held StarProperty.my Roadshow 2017 at Atria Shopping Gallery on a talk entitled “2017 and Beyond – What’s Hot & What’s Not”.
For those who are interested in StarProperty.my events, join the upcoming fair at Sunway Velocity Mall. The event will be held from Sep 7 to 10 (Thursday to Sunday), 10 am to 10 pm.
Those who register at wah.starproperty.my or purchase a property at any StarProperty.my fairs will stand a chance to win a home worth over half a million ringgit in Section 13, Petaling Jaya.
Visit fair.starproperty.my for more details.
