Lot of my friends in late 20s and early 30s.

property market in Malaysia are mainly supported by local buyers/investors.

No need to worry if the market down also. Holding it well and don't let go no matter what, cause you will have a big gain eventually.

Short term impact.    More or less of my expectation. The reason being that Msia property market is supported by REAL demand. The majority of Msia population just entering buying property age.

The reason speculators can fester are due to there are huge demands for property still. 
Actually I think it is good to calculate based on net pay, for the actual buyers and to the stability of the property market in the long run. Some buyers tend to over-stretch their limit based on gross pay which cause problems later on.   

Pigeon hole apartment got its benefits as well, at least it is easier to maintain. 

tough time ahead very soon in MY.....just received latest insider info that 1 major foreign bank decided to cutback property loan to only 60%-70% financing regardless of commercial, residential, etc. This also applicable to 1st property owner unless falls under RM220k residential prop. Heard other local banks are likely to follow suit .....

Seems the bank has identified some big risk is coming very soon in the horizon......

those still gangho to BBB, better check with your banker first before making any commitment......

Recently I went to one of property launching. I talk to two aunties and ask why they buy? investment or goreng?

One aunty said it is for her son. Her son still studying in secondary school.

The other one said also for her daugther ... her daughter is now working maybe salary still low. She said her daugther salary definately kenot afford a property and nowaday property increase faster than the salary. So she bought it just in case her daughter wants to move out and stay in it.  .

Wahlau eh, I hope I got parents like this.

Mcm ni, sure property price will escalate to new high further ....

all project offer low entry cost as low as Rm 1000 for the Rm350+K condo, medium class people (or low) able to buy......they might not
think about repayment after handling over, simply think to investment for $$$......if cash flow not strong all gone.

They are stretching, but it is not over-stretch yet as both are high income earners. The props they bought is service-apt type. No need to succumb to LTV70 rule.

I don't know for sure. Let's just say they still can continue living their lifestyle even after the purchase. 
Unless money supply drops drastically next year, otherwise the market will still be flushed with liquidity. As long as there is still a large amount of cash floating in the market, many people, like your friend will continue to dabble in risks. Banks need to loan out the cash, risk takers will borrow and dabble in stocks, properties, etc. The recent SRR increase doesn't really affect banks hoarding of cash. M-3 supply has grown another RM106B from July last year till May this year.

I really don't see how property market will crash in the short to mid term as long as the money keeps rolling in (thanks to US anyway for their quantitative easing).

Moderation of property prices in the short term maybe, as no. of barriers increase for property buyer. Many ppl will pause to see see look look what is the next development. Then after awhile, ppl will think "What is my money doing in the banks earning less than the inflation rate?" And then the property price graph start to continue upwards movement...

Of course, I am not saying a crash won't happen, it is just that I don't see the signs yet. 

Something for reading, which is a good piece from BNM:

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No way...kekekeke.....

anytime is buying time....anytime is selling time too...

anytime got people get richer, anytime got people get poorer too...

Coz the world is globe-shaped....