Property News

[FHBH12]

Landed and industrial properties are still hot in Johor

 

[FHBH12]

M'sia developer sales hit by cooling measures
After H1 slowdown, negative outlook increases for H1 '15
The Business Times - September 12, 2014
By: PAULINE NG IN KUALA LUMPUR

MALAYSIA'S property cooling measures appear to have hit home, with nine out of 10 developers in a recent survey reporting a slowdown in sales in the first six months of this year.

Most are neutral to pessimistic in their outlook for the second half, but the negative outlook is increasing for the first half of 2015.

Still, those who expect a reduction in prices may not get their wish.

Developers said that prices for new launches are expected to be stable, with nearly two out of three respondents in a poll by the Real Estate and Housing Developers' Association claiming that the cost of doing business had increased in the first half (with more than 50 per cent of them stating by up to a fifth) mainly because of higher conversion premium, compliance costs and infrastructure contribution funds.

Labour and building material problems (high wages, shortage and inconsistency of supply) had also impacted their operations, according to 43 per cent of respondents.

Many also said they faced challenges getting approvals from the utility companies.

But in terms of sales, the top measures cited were: 70 per cent loan-to-value ratio; scheduled implementation of a 6 per cent goods and services tax in April 2015; higher real property gains tax & the central bank's responsible lending guidelines; prohibition of developer interest bearing schemes; and capping the maximum loan tenure to 35 years.

Some 53 per cent of 152 respondents also complained of end-financing issues - as opposed to 16 per cent for bridging finance - mainly related to: ineligibility because of buyers' income; lower margin of financing; banks requesting more documents; credit history; and limited quota for low cost/affordable housing.

The survey found the RM250,001 (S$98,856) to RM500,000 price range to be the "most vulnerable" to end-financing challenges (30 per cent).

This was followed by the RM500,001 to RM700,000 price range (24 per cent).

In the first half, the developers reported a slight dip in sales performance compared with the second half of 2013, ostensibly because of end-financing woes.

Even so, builders maintain that housing demand remains intact and in the first half, launched units at a higher price bracket compared with the second half of 2013.

In Selangor and Penang, for instance, the "most launched price range" moved from RM200,001-RM500,000 to the RM500,001-RM1 million range, while in Kuala Lumpur it shifted from RM500,001-RM1 million to above RM1 million.

More launches are planned in the second half than the first.

Survey respondents said that the top factor influencing buyers' preference is location, followed by price and potential capital appreciation.

The leading reasons for unsold units, they noted, were unreleased bumiputera lots (there is a mandated quota in each state in Malaysia), low demand and odd lots.

http://www.stproperty.sg/articles-p...eloper-sales-hit-by-cooling-measures/a/180233

 

[FHBH12]

Iskandar regulator plays down fears of property glut
IRDA says jobs to be created will ensure demand for thousands of homes
The Business Times - July 31, 2014
By: PAULINE NG IN KUALA LUMPUR

ISKANDAR Regional Development Authority (IRDA), the statutory authority for regulating and driving the development of Iskandar Malaysia into an international metropolis, has played down fears of an impending property glut.

Jobs to be created over the next few years will ensure demand for thousands of homes, it maintains, but concedes that improved public transport, including the proposed rail link between Singapore and Johor Bahru, would be essential in advancing the economic zone.

"The MRT/BRT (bus rail transit) engineering link study has been tabled with the JMC which has until the end of 2014 to decide," said IRDA chief executive Ismail Ibrahim. JMC is the Joint Ministerial Committee established by Malaysia and Singapore.

In a recent interview, he stated that the link was targeted to be completed "by 2018 or latest by 2020".

Given reports that the JMC was expected to have made the decision last year, the target seems ambitious.

Indeed, Mr Ismail revealed that multiple configurations have been put before the JMC. The four options - high bridge, low bridge, sunken tunnel or bored tunnel - come with 29 alignment alternatives (combining the four options), in part because Malaysia has yet to decide where to locate its station.

Its choices are JB Sentral, Tanjung Putri or Bukit Chagar while Singapore has elected to site its station on the Thomson line, where the first phase is to open in 2019.

Plans for an intercity rail also do not appear in the distant horizon even though it has been nearly a decade since Iskandar's launch.

What has been far swifter getting off the ground are property projects as evidenced by the number of construction cranes that now juxtapose the landscape, particularly after Chinese developers including Country Garden Holdings and Guangzhou R&F Properties descended on Iskandar, inundating the domestic market with their "carpet bombing" strategy of building and selling in the thousands rather than taking a more phased approach.

Mr Ismail insists that there isn't an issue.

"Firstly, I don't think the supply of high-end units is sufficient for potential purchasers. If we take Iskandar, all the hype about development constitutes less than 5 per cent of the total 2,217 sq km, and this is mainly in Medini, Putri Harbour and Danga Bay. "Secondly, the price is within their reach and determined by supply and demand" here, referencing Iskandar's main catchment target of Singaporeans or residents working there.

According to data from the National Property Information Centre (Napic), some 300,000 homes are either under construction or in the pipeline, amounting to about 42 per cent of the current 702,000 homes in the state. Even so, Napic's figures often lag the market. How many of these are high-end or costing at least RM1 million (S$390,000) is also unclear.

The lack of clear property statistics adds to concerns and IRDA was not able to offer any data either.

But Mr Ismail trusts that "the developers have done their forecasts". Local builders are similarly careful about criticising the deluge of units planned since the Chinese developers are experienced players. Moreover, many purchasers are now viewed as global citizens who are content to buy an apartment for use as a holiday pad.

In any event, Mr Ismail was quick to point out that IRDA's executive powers are limited. Facilitation and planning might come under it, but not enforcement, he stressed, adding that the onus is on the relevant authorities, including local councils responsible for approvals, to consider the feasibility of a proposed development.

"IRDA is only involved in catalytic projects involving real estate that have a multiplier effect, for example industrial and tourism. We can't stop others if they want to develop real estate.

"But if the authorities vested with powers act in the way they are supposed to, things should be okay."

The numerous property developments notwithstanding, the controversy surrounding two to three planned massive reclamation projects has added to the negative sentiment.

Forest City, a proposed man-made island of 2,000 hectares of reclaimed land near the Second Link involving Country Garden and state investment agency Kumpulan Prasarana Rakyat Johor as well as the state monarch recently had work halted by the federal government after Singapore lodged a complaint that its shoreline could be adversely affected.

The development was said to lack a detailed environment impact assessment despite its size and potential ramifications to the surroundings.

Two other proposed reclamation projects involving listed Benalec Holdings and members of the royal family off Tanjung Piai and off Pengerang have also set alarm bells ringing. Local media has reported that a delay in approving the EIA had prompted a rebuke from the Sultan.

Would such potentially disruptive developments - not provided for in the Iskandar Comprehensive Development Plan - put a dampener on further investments which to-date total some RM146 billion? Mr Ismail side-steps. He observed that "a lack of consultative process and engagement with stakeholders" may have contributed to the bearish sentiments at present. If IRDA had been consulted at the planning stage, it would have advised on the suitability of such projects, he said.

He prefers to talk about the many jobs that will be created from catalyst developments such as the US$27 billion Petroleum Integrated Complex (PIC) in Pengerang, and said that in 2013, some 98,440 vacancies were created, out of which about a third were skilled or semi-skilled (mainly in electrical & engineering), and the rest, low and unskilled work. Even so, only 11,180 jobs were filled mainly in E&E, hospitality and tourism.

The first phase of the PIC, to be developed over some 15 years, is scheduled to commence operations around 2019 and according to projections, when completed, will result in some 14,000 jobs, about 4,000 of those professionals.

Under Iskandar's comprehensive development plan, the workforce is projected to touch 1.4 million by 2025, from 660,000 now.

Given the estimated 800,000 jobs to be created over the period, Mr Ismail argues that some 600,000 units are required over and above the existing housing stock. "I can confidently say the project will bring in the right people to create demand for high-end homes."

As the billions get invested on the ground, it remains to be seen how much of the ideals underlined in the Comprehensive Development Plan is adhered to. But the tepid rollout of public infrastructure to match investments is likely to crimp progress, especially when more and more homes are completed.

http://www.stproperty.sg/articles-p...or-plays-down-fears-of-property-glut/a/174342

 

[FHBH12]

IRDA seems to have lost control to push for a sustainable growth of Iskandar. There appears to be admission that a glut in condos in the areas highlighted above.

 

[Jetstream]

IRDA seems to have lost control to push for a sustainable growth of Iskandar. There appears to be admission that a glut in condos in the areas highlighted above.

They also seem to be pushing the buck to the local councils who it says are the approving authorities for all these condo projects.

 

[malpaso]

I really don't know what some of these people (IRDA's Mr Ismail for eg) are smoking when quoting their data sources.

In KL there are about 20-30K units of condos priced between 600k-1.5M (considered mid to high end) and maybe say 4-5 times are of those lower cost units (assuming high end constitute 20-30% of supply). Even with all that, I put the supply at 100-150k units in whole of KL. Nowhere near 600-800K units.

http://www.thestar.com.my/Business/...atchers-Number-of-upcoming-units-frightening/

And this IRDA is saying Johor needs 600K more units for 800K number of jobs? I wonder what logic is that.

""Given the estimated 800,000 jobs to be created over the period, Mr Ismail argues that some 600,000 units are required over and above the existing housing stock""

 

[Aviator]

Talking thru their arses

 

[Funniman]

If they come to KL, they only go to KLCC and shopping complex and say that is KL.
They have no idea what is called a linear city.

 

[FHBH12]

More owners of luxury condos selling at a loss
Yields also under pressure; low rentals leave more people struggling to pay mortgages
BYLEE MEIXIAN
[email protected] @LeeMeixianBT
PUBLISHED SEPTEMBER 15, 2014

[SINGAPORE] A larger percentage of high-end luxury condo homes on the resale market are selling at a loss and a smaller percentage at a profit, as the tide of the once-rosy property market recedes and reveals those who have been "swimming naked" - that is, those without adequate holding power for their extravagant purchases.

According to data compiled by STProperty.sg from URA Realis, 7 per cent of transacted units in the prime districts 9, 10 and 11 sold at a loss in the first eight months of this year, up from 5.5 per cent over the same year-ago period.

Fewer people are profiting from their resales too: only 62.2 per cent enjoyed any capital gains - a steep drop from 83.5 per cent a year ago. And 4.5 per cent sold without making a profit or a loss (versus 0.4 per cent a year ago).

Yields are also under pressure. The low-rental environment is leaving more owners struggling to repay their mortgages. Assuming a S$1.6 million loan (equivalent to an 80 per cent loan limit for a S$2 million property) is taken out at an annual 1.5 per cent interest rate over a 30-year tenure, this would amount to a monthly mortgage of S$5,500. Rentals would therefore have to be in excess of this to cover mortgage payments.

"In some cases, the monthly rental cannot cover the mortgage. Take a S$5 million Sentosa Cove condo: it would take a monthly rent of S$13,800 to cover your loan," said Christine Li, head of research and consultancy at OrangeTee.

"That said, it's quite common that rents cannot cover monthly instalments, especially for bigger units. But those who don't have holding power would have to let go of their units. Others may be forced to do mortgagee sales," she added.

But not all the sellers who were willing to stomach losses were over-leveraged. Some could simply want to exit the market because they don't see the cooling measures ending anytime soon (meaning, they expect that price recovery is still far off), or just as a way of rebalancing their overall portfolio.

"A large proportion of purchases in the prime districts are by foreigners; perhaps they are just pulling out of Singapore. But the fall in demand for private homes makes it harder for sellers to find buyers. So if they really need to sell, they will have to lower their prices significantly," said Lee Lay Keng, DTZ's Southeast Asia regional head of research.

Investors would also have bought into high-end properties in major cities in the US, Europe and Australia, where there have been exciting properties launched in recent years, RST Research director Ong Kah Seng said.

In all likelihood, despite pulling out of Singapore, they might have profited elsewhere as other countries saw an uptick in residential property prices after the global financial crisis.

Meanwhile, loan curbs and price cutting by developers at new condo launches also continue to sap strength from the resale market.

Condo homes in the prime districts 9 (Orchard Road, River Valley), 10 (Bukit Timah, Holland, Balmoral) and 11 (Novena, Newton, Thomson) have traditionally been purchased as investment homes for capital gains and rental yields.

Buyers bank on demand from expatriate lessees, most of whom enjoy staying near the city. But with corporate housing budgets having shrunk post-financial crisis, these foreign workers are moving instead to the city fringes and suburbs, with some even renting HDB flats.

Losses made in resale transactions from January to August 2014 range from S$9,300 for a unit at The Hillier in Bukit Timah, to S$2.06 million for a unit at St Regis Residences in Tanglin. The latter was purchased at S$6.8 million in 2007, and sold for S$4.7 million in April this year.

Four units at The Promont (at Cairnhill), St Thomas Suites (near River Valley), Tanglin View and Waterscape At Cavenagh also resold at considerable losses of S$800,000 to S$1.2 million each (see table).

Notably, there were also four units at Robinson Suites on Shenton Way which resold at losses of about S$300,000.

Many of the loss-making resale transactions from the first eight months of this year were from sellers who bought their units in 2007, in the run-up to the previous peak in property prices and just when the financial crisis was starting.

Prices of these prime-location condos have recovered since, but dipped back down slightly from 2012 due to cooling measures. As at Q2 2014, prices were roughly on a par with the previous peak in 2008.

This means that not only would buyers who picked up condo units fresh at launch in 2007 not enjoy much capital gains, they may also suffer a loss if they sell now.

While analysts expect the trend of loss-making resale transactions to continue, they say it is unlikely to worsen significantly as long as economic conditions - such as low unemployment and interest rates - remain favourable.

http://www.businesstimes.com.sg/premium/top-stories/more-owners-luxury-condos-selling-loss-20140915

 

[FHBH12]

Same thing might happen to southern JB's mid- to high-end condos from 2016. It requires holding power to tide over approximately 10 years of oversupply according to my estimations, assuming no more new launches over this period.

 

[Daydreamer]

They already started slipping. Next year will slip further by mid year.

 

[malpaso]

More owners of luxury condos selling at a loss
Yields also under pressure; low rentals leave more people struggling to pay mortgages
BYLEE MEIXIAN
[email protected] @LeeMeixianBT
PUBLISHED SEPTEMBER 15, 2014

[SINGAPORE] A larger percentage of high-end luxury condo homes on the resale market are selling at a loss and a smaller percentage at a profit, as the tide of the once-rosy property market recedes and reveals those who have been "swimming naked" - that is, those without adequate holding power for their extravagant purchases.

According to data compiled by STProperty.sg from URA Realis, 7 per cent of transacted units in the prime districts 9, 10 and 11 sold at a loss in the first eight months of this year, up from 5.5 per cent over the same year-ago period.

Fewer people are profiting from their resales too: only 62.2 per cent enjoyed any capital gains - a steep drop from 83.5 per cent a year ago. And 4.5 per cent sold without making a profit or a loss (versus 0.4 per cent a year ago).

Yields are also under pressure. The low-rental environment is leaving more owners struggling to repay their mortgages. Assuming a S$1.6 million loan (equivalent to an 80 per cent loan limit for a S$2 million property) is taken out at an annual 1.5 per cent interest rate over a 30-year tenure, this would amount to a monthly mortgage of S$5,500. Rentals would therefore have to be in excess of this to cover mortgage payments.

"In some cases, the monthly rental cannot cover the mortgage. Take a S$5 million Sentosa Cove condo: it would take a monthly rent of S$13,800 to cover your loan," said Christine Li, head of research and consultancy at OrangeTee.

"That said, it's quite common that rents cannot cover monthly instalments, especially for bigger units. But those who don't have holding power would have to let go of their units. Others may be forced to do mortgagee sales," she added.

But not all the sellers who were willing to stomach losses were over-leveraged. Some could simply want to exit the market because they don't see the cooling measures ending anytime soon (meaning, they expect that price recovery is still far off), or just as a way of rebalancing their overall portfolio.

"A large proportion of purchases in the prime districts are by foreigners; perhaps they are just pulling out of Singapore. But the fall in demand for private homes makes it harder for sellers to find buyers. So if they really need to sell, they will have to lower their prices significantly," said Lee Lay Keng, DTZ's Southeast Asia regional head of research.

Investors would also have bought into high-end properties in major cities in the US, Europe and Australia, where there have been exciting properties launched in recent years, RST Research director Ong Kah Seng said.

In all likelihood, despite pulling out of Singapore, they might have profited elsewhere as other countries saw an uptick in residential property prices after the global financial crisis.

Meanwhile, loan curbs and price cutting by developers at new condo launches also continue to sap strength from the resale market.

Condo homes in the prime districts 9 (Orchard Road, River Valley), 10 (Bukit Timah, Holland, Balmoral) and 11 (Novena, Newton, Thomson) have traditionally been purchased as investment homes for capital gains and rental yields.

Buyers bank on demand from expatriate lessees, most of whom enjoy staying near the city. But with corporate housing budgets having shrunk post-financial crisis, these foreign workers are moving instead to the city fringes and suburbs, with some even renting HDB flats.

Losses made in resale transactions from January to August 2014 range from S$9,300 for a unit at The Hillier in Bukit Timah, to S$2.06 million for a unit at St Regis Residences in Tanglin. The latter was purchased at S$6.8 million in 2007, and sold for S$4.7 million in April this year.

Four units at The Promont (at Cairnhill), St Thomas Suites (near River Valley), Tanglin View and Waterscape At Cavenagh also resold at considerable losses of S$800,000 to S$1.2 million each (see table).

Notably, there were also four units at Robinson Suites on Shenton Way which resold at losses of about S$300,000.

Many of the loss-making resale transactions from the first eight months of this year were from sellers who bought their units in 2007, in the run-up to the previous peak in property prices and just when the financial crisis was starting.

Prices of these prime-location condos have recovered since, but dipped back down slightly from 2012 due to cooling measures. As at Q2 2014, prices were roughly on a par with the previous peak in 2008.

This means that not only would buyers who picked up condo units fresh at launch in 2007 not enjoy much capital gains, they may also suffer a loss if they sell now.

While analysts expect the trend of loss-making resale transactions to continue, they say it is unlikely to worsen significantly as long as economic conditions - such as low unemployment and interest rates - remain favourable.

http://www.businesstimes.com.sg/premium/top-stories/more-owners-luxury-condos-selling-loss-20140915

These are only for those high end condos bought from developers in 2007. most other subsale outside Central region or even older condo are sitting on very nice profits. i just recently checked transacted prices for a river valley condo, it's 4 times the 2005-2007 price, mainly due to the low price in 2005 due to it being quite old and rundown. recently after a new paintjob and upgrade, it's looking very hospitable compared to 2007.

 

[RedsYNWA]

These are only for those high end condos bought from developers in 2007. most other subsale outside Central region or even older condo are sitting on very nice profits. i just recently checked transacted prices for a river valley condo, it's 4 times the 2005-2007 price, mainly due to the low price in 2005 due to it being quite old and rundown. recently after a new paintjob and upgrade, it's looking very hospitable compared to 2007.

SG condos above $3m are having a hard time. Condos below $2m are esp resilient. That said, with lower population growth in SG, in the long run, Malaysia may offer higher returns as it continues to urbanise. In the short-term, SG is probably a more stable and resilient market.

 

[snowbird]

Iskandar regulator plays down fears of property glut
IRDA says jobs to be created will ensure demand for thousands of homes
The Business Times - July 31, 2014
By: PAULINE NG IN KUALA LUMPUR

ISKANDAR Regional Development Authority (IRDA), the statutory authority for regulating and driving the development of Iskandar Malaysia into an international metropolis, has played down fears of an impending property glut.

He prefers to talk about the many jobs that will be created from catalyst developments such as the US$27 billion Petroleum Integrated Complex (PIC) in Pengerang, and said that in 2013, some 98,440 vacancies were created, out of which about a third were skilled or semi-skilled (mainly in electrical & engineering), and the rest, low and unskilled work. Even so, only 11,180 jobs were filled mainly in E&E, hospitality and tourism.

The first phase of the PIC, to be developed over some 15 years, is scheduled to commence operations around 2019 and according to projections, when completed, will result in some 14,000 jobs, about 4,000 of those professionals.

Under Iskandar's comprehensive development plan, the workforce is projected to touch 1.4 million by 2025, from 660,000 now.

Given the estimated 800,000 jobs to be created over the period, Mr Ismail argues that some 600,000 units are required over and above the existing housing stock. "I can confidently say the project will bring in the right people to create demand for high-end homes."

As the billions get invested on the ground, it remains to be seen how much of the ideals underlined in the Comprehensive Development Plan is adhered to. But the tepid rollout of public infrastructure to match investments is likely to crimp progress, especially when more and more homes are completed.

http://www.stproperty.sg/articles-p...or-plays-down-fears-of-property-glut/a/174342

This guy Mr Ismail is either daydreaming or grossly ill-advised, his forecast are all rubbish!
The single biggest industry in Johor in the near future is probably the Petroleum Integrated Complex (PIC) in Pengerang, scheduled to complete in 2019.
He went on to suggest that about 14,000 jobs will be created with the running of the PIC.
Wonder if he knows that Exxon Mobil in Singapore, the largest in the world, handling 600,000 barrels/day is only employing about 3,000 people!
He can add in people in the supporting industries like transport, packing, logistic, services, etc., still the numbers don't add up.
His forecast that some 800,000 jobs will be created is simply pluck from nowhere.
Even if this PIC can only takes in 14,000 as suggested, where the remaining 786,000 (800,000-14,000) jobs comes from??
Then he try to justify that with 800,000 jobs created, 600,000 new housing units would be needed is utterly senseless.
Is he trying to imply that most of the 800,000 jobs will be going to foreigners hence new units of homes are required to house them?

 

[Aviator]

Speaking thru their arses!

 

[malpaso]

SG condos above $3m are having a hard time. Condos below $2m are esp resilient. That said, with lower population growth in SG, in the long run, Malaysia may offer higher returns as it continues to urbanise. In the short-term, SG is probably a more stable and resilient market.

same with MY condo, those above 2M RM hard sell. Also, MY investment is riskier. Yes, the returns are there due to more room for progress, but this is more than balanced out by there being more room for things to go wrong, so one has to be ultra cautious. short to medium term, i think both markets are stagnant with more likelihood of depressed prices moving forward, and if a global economic crisis hits, expect more lelong cases to show up as short term players with no holding power (i.e. naked flippers) get shaken out.

 

[malpaso]

This guy Mr Ismail is either daydreaming or grossly ill-advised, his forecast are all rubbish!
The single biggest industry in Johor in the near future is probably the Petroleum Integrated Complex (PIC) in Pengerang, scheduled to complete in 2019.
He went on to suggest that about 14,000 jobs will be created with the running of the PIC.
Wonder if he knows that Exxon Mobil in Singapore, the largest in the world, handling 600,000 barrels/day is only employing about 3,000 people!
He can add in people in the supporting industries like transport, packing, logistic, services, etc., still the numbers don't add up.
His forecast that some 800,000 jobs will be created is simply pluck from nowhere.
Even if this PIC can only takes in 14,000 as suggested, where the remaining 786,000 (800,000-14,000) jobs comes from??
Then he try to justify that with 800,000 jobs created, 600,000 new housing units would be needed is utterly senseless.
Is he trying to imply that most of the 800,000 jobs will be going to foreigners hence new units of homes are required to house them?

800k new jobs to 600k houses, that means each worker require one house? bizzare logic.

 

[FHBH12]

same with MY condo, those above 2M RM hard sell. Also, MY investment is riskier. Yes, the returns are there due to more room for progress, but this is more than balanced out by there being more room for things to go wrong, so one has to be ultra cautious. short to medium term, i think both markets are stagnant with more likelihood of depressed prices moving forward, and if a global economic crisis hits, expect more lelong cases to show up as short term players with no holding power (i.e. naked flippers) get shaken out.

Residential projects have run out of steam in JB and SG.

My guess is new growth areas in JB (other than Pengerang) should be the zone between Tebrau/Senai and north of Gelang Patah, supported by new manufacturing activities. For SG, it should be around Jurong East and Marina Bay, as they will be supported by expanding commercial activities.

It is the cooling measures that are holding back the prices as economy is still growing, especially in JB. There are still tons of rich investors in SG entering Australia, UK, US and Indonesia markets, not to mention Vietnam and Cambodia in recent months.

 

[RedsYNWA]

Unhappy Malaysian hackers at work, over the causeway toll increase?

http://digital.asiaone.com/digital/news/threat-leak-more-data-over-causeway-tolls

 

[FHBH12]

iProperty.com Asia Property Market Sentiment Report 2014 (H2)
Posted Date: Sep 04, 2014
By: iProperty.com

The iProperty.com Asia Property Market Sentiment Report 2014, for the second half of the year, revealed that affordability and rising house prices continue to remain the biggest concern for respondents in Malaysia, Indonesia, Singapore and Hong Kong. The survey was conducted across the iProperty Group’s leading network of property websites in Malaysia (iProperty.com.my), Singapore (iProperty.com.sg), Indonesia (Rumah123.com) and Hong Kong (GoHome.com.hk). Attracting close to 13,000 respondents, with 5,295 respondents from Malaysia, the survey revealed consumer’s preferences and concerns in acquiring property in Asia.

Key Findings in Malaysia:

* Below RM500,000 is the budget that respondents have to purchase property and landed property is still the preferred property choice.

* 55% revealed that the GST will affect their decision to purchase property and 85% believed that property prices will increase once the GST is implemented in April 2015.

* Slightly less than half of respondents believed that transactions in the property market will remain more or less the same.

* 74% believed that foreign property buyers and investors are driving up Malaysia’s property prices.

* Australia continues to remain the preferred overseas property investment destination.

Download full report here: http://s3-pdf.iproperty.com.my.s3.a... Property Market Sentiment Report H2 2014.pdf

http://www.iproperty.com.my/news/9170/iproperty-com-asia-property-market-sentiment-report-2014-h2