Page 6 - Maybank Premier & Priviege Virtual Property Fair eBrochure

EXPERT INSIGHTS

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
after a six-year slowdown and a reverse in the cycle was expected. However,
the stabilizing cycle trend at end 2019 was dampened by the Covid lockdown
and it’s starting to recover. In a recovery market the movement will only go up,
K. SOMA SUNDRAM how fast and how much is left to be seen, provided the fundamentals remains
Chief Executive Officer, strong. The government is committed to spur the economy in the preparation of
Malaysian Institute of Estate the next GE and the best way is through legislative intervention. The
Agents
government has played a significant role in the recovery by 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 augurs 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!