Although the Malaysian residential property market has experienced five consecutive years of slowdown in terms of declining sales volume since its peak in 2012, the falling sales volume did not drive down the total value of transactions until 2015.
As at Q1 2018, The average residential property value in Kuala Lumpur was RM797,000 (S$264,747), followed by Selangor at RM465,000; Penang at RM421,000; Johor at RM339,000; and Malacca at RM249,000.
The property market in Malaysia has already been subdued for five years since 2012 and it is not expected that the situation will improve rapidly in 2018 but it seems that there are still pockets of opportunity for homebuyers and investors to look into, especially in this soft market.
It has been observed in the secondary market that there are many value-buy residential properties that have already been made available in recent months.
With asking prices that are also reasonable, some of these are in sought-after locations, which previously did not have many good units available for sale.
It has been observed in the primary market that developers are offering more incentives than before for their projects such as cash rebates, freebies (free maintenance fee, legal fee, stamp duty, electrical appliances, etc).