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 Will you think the property market will fall soon?, will the landed property fall in 2024?

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CSW1990
post Aug 17 2022, 09:32 AM

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Those affordable unit below 600k (I mean affordable by M40) unlikely will drop. New property the price will “remain”but developer build smaller and smaller
CSW1990
post Aug 17 2022, 10:58 AM

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QUOTE(bonedragon @ Aug 17 2022, 10:35 AM)
The cost may be going up, if no transactions, property developers/sellers who need cash will still offload it. First by reducing margin, if not, then by taking a small loss. The cost is almost irrelevant. It's like saying cost of mining bitcoin is very high end of last year so the price will definitely not drop. Well, we all know what happened there.
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I think cannot compare with Bitcoin… Butcon, stock, rolek, etc these are not daily essential items and are for investment or more precisely say people buy them just for goreng, people won’t die without it of course one day these item price will collapse, and then recover and repeat

Wondering if the car, house, food, clothes will these things price ever drop sharply in the world that population keep grow explosively and in a country that considered stable( low risk of war, natural disaster) . one can survive without buying car but still have to pay transportation fee, one don’t have house still need have to pay rent.
Of course buy many properties for goreng purpose that one cannot afford will surely have higher risk as it has no difference to buying stock and Bitcoin.
CSW1990
post Aug 17 2022, 11:20 AM

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QUOTE(bonedragon @ Aug 17 2022, 11:14 AM)
According to national statistics department, there are almost 2 million unoccupied homes in Malaysia. How essential and necessary are these homes? Not to mention property overhang which is at all-time high. Again, who needs these houses? Over 10-20 years yea probably these will be resolved. Small consolation for sellers who need money in next 6 months.

https://www.malaysianow.com/news/2022/07/29...noccupied-homes
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This 2 million unit unoccupied homes you can get it at 50% discount price? Property developer strategy is to build more and keep price up, will they give big discount just to clear these unsold overhang unit? It will be more like earn small lose big in long term for them. Like one for forummer said in earlier post, weak developer might die but not strong developer. Current property price still affordable for most Malaysian.
CSW1990
post Aug 17 2022, 12:01 PM

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QUOTE(bonedragon @ Aug 17 2022, 11:33 AM)
Whether drops by 10% or 50% no one can predict. I think what we can say is that macros don't look good for continued appreciation in near term. In fact it's been stagnant for quite a few years. Developers are just one source of homes. Most of the unoccupied homes owned by people who want to goreng and have artificial holding power coz of the super low interest rate for the past 10-15 years. Will be interesting to see how the market behaves as BNM OPR continues increasing.

Also not sure why you will say property price is affordable for most Malaysian. Easy to lose sight of what 'most' Malaysian means in our society where it's very stratified not just by race but also income levels. Median household income is just RM5k per month.
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Like what you said those unoccupied one are owned by people who want goreng and these are minor population

Malaysia property price now is too high and already cannot affordable by most Malaysian ??
CSW1990
post Aug 17 2022, 04:53 PM

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QUOTE(Drian @ Aug 17 2022, 01:39 PM)
This talk of property will drop has been mentioned for 6 years already but it didn't happen.
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Heard this already at least 10 years ago .. now those experts still saying nowadays property price still too high poorperty bubble will burst soon… maybe the burst they were saying are price drop 70% suddenly…
In my opinion if property price stagnant for years basically no different to price drop already..
But good location it won’t drop significantly the high demand still there

 

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