Just two slides from my good friend, Sr. Michael Geh Senior Partner of Raine & Horne and Immediate Past President of FIABCI (Malaysian chapter) to show what’s REALLY happening versus some responses which you get from some random friends. On an overall basis, the total property transactions has shown a V-shaped rebound.
In fact, if we look at the transaction, it’s higher than even Q4 2019 which was the quarter before any COVID-19 effects started here in Malaysia and even the world. Before we run out of our house and towards the nearest property sales gallery, please note that this number may also be due to the pent-up demand from Q2 2020 yeah.
Next chart shows ONLY Residential Property Transactions in Malaysia. The trend is an obvious V-shape and this is super important because it reflects the demand for a home remain very strong. Of course, we need to also note that Q2 2020 was a very low quarter and some of the transactions during this quarter happened in Q3 2020 instead. Thus, it would be good to look at one more quarter to see if the number normalised versus typical quarters.
More charts to come but at least we now see that the activities in the property market in Malaysia is really a positive one. Yes, this is good news to property owners as you may not be forced to lower your prices too much just to find a buyer. As for the buyers, there are still many potential good buys if we understand and do enough due diligence. Happy referring and will be showing you more charts soon.
The article was written and originally published on kopiandproperty.com