Page 6 - Maybank Premier & Privilege Virtual Property Fair

VIEWS FROM THE EXPERTS

As we move on from the lockdown, the important question in the minds of
stakeholders is, where is the property market heading? The many doomsday
masters predicted a collapse much to the chagrin of those who are informed
and those on the ground.

The current property market is akin to waking up from a deep slumber,
moving from a ‘zero’ transaction standpoint during the shutdown to a positive
growth resulting in a current ‘Boom Market Position’. Many may not realize
that we saw both in 2018 and 2019 a growth in the volume of transaction
KRISNASWAMYMR. SOMA
SUNDRAM after a six-year slowdown and a reverse in the cycle was expected. However,
Chief Executive Officer, the stabilizing cycle trend at end 2019 was dampened by the Covid lockdown
Malaysian Institute of Estate
Agents (MIEA) and it’s starting to recover. In a recovery market the movement will only go
up, how fast and how much is left to be seen, provided the fundamentals
remain strong.

The Government is committed to spur the economy in preparation for the
next GE and the best way is through legislative intervention. The government
has played a significant role in the recovery with the introduction of the
moratorium, giving tax breaks, RPGT waiver, reintroduction of the HOC
incentives, supporting developers in their endeavour to sell hangover
properties etc. This has provided the stimulus to build confidence in the
property market. We anticipate that by 2020 the property market will forge
ahead with new vigour & vitality.

Now seems to be the best time to take advantage to invest as the low prices,
poor demand, low interest rates and tax breaks augur well for any investor
with savings and opportunity. The market is opening up for those with the
money and the investment spirit. The property ownership mood is coming
back, the prices are down and it’s the right time to invest and own property.
Go for it!

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