Aug 12 2013, 01:45 PM
QUOTE(accetera @ Aug 12 2013, 12:10 PM)
Cannot compare with HK and SG.
These 2 markets are very open market and alot alot of Foreign Tycoons That Become Residents, Working High Income Expats as well as Skilled Blue Collar Resident Expats.
Though Malaysia's future looks bright simply on demographics, and yes, our median population age and birth rate are amongst the youngest and best in ASEAN, we do not know whether how affordable could properties become for the mass of our population. Looking at our salary levels, I doubt most of the 4mil freshies who migrate to Klang Valley to work could even afford a 500 sf apartment in coming years.
At the same time, those who are working as Managers and those seeking for Promotions in coming years will become those people who are able to afford the New Projects. But how many are there who able to afford?
I strongly agree with your statement of "cannot compare with HK and SG". These 2 markets are very open market and alot alot of Foreign Tycoons That Become Residents, Working High Income Expats as well as Skilled Blue Collar Resident Expats.
Though Malaysia's future looks bright simply on demographics, and yes, our median population age and birth rate are amongst the youngest and best in ASEAN, we do not know whether how affordable could properties become for the mass of our population. Looking at our salary levels, I doubt most of the 4mil freshies who migrate to Klang Valley to work could even afford a 500 sf apartment in coming years.
At the same time, those who are working as Managers and those seeking for Promotions in coming years will become those people who are able to afford the New Projects. But how many are there who able to afford?
Both HK and SG have land scarcity issue and the property market is highly regulated. Whatever curbing measure the government impose, it will not affect the market like what Ah Tong highlighted, to some extent, I feel he is over eXXXXagerating the situation. When we refer to HK and SG property market, we are generally refering to 50% of HK and 15% 0f SG private market. Most of the property hikes were caused by the inrush of new cash rich emigrants from mainland China. Most of the low and middle income group stay in the government public houses aka HDB in SG.
It is not a fair comparison to Msia market if the data is extracted from the private market of the two high income city states. It is basically comparying high income elite group to general public.
In china, similarly data from Shanghai and Beijing (which contributed the most to the transaction data base) are somehow a regulated market in a different manner. After the ridiculous property curb by communist party in 2009, most of the new development are transacted by the ultra rich and ultra powerful (political) group of people. Ah Tong intentionaly or selectively neglected the fact that the cradle city of China private entrepreneur Wenzhou is suffering a whopping 40% drop in price in 2012/13 and yet to have sign of bottom out; yet to mention the ghost city in Bayonnao, kangbashi, Xin Zheng city, Erenhot and etc.
Ah Tong is a developer, what else can you expect coming out from his mouth? same like what you listen from property agents, conflict of interest la.
This post has been edited by KLsooner: Aug 12 2013, 01:50 PM
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