1997 is 14 years ago. Property prices will always adjust higher barring any negative circumstances. So price appreciation now is not a surprise. If anything, Malaysia lags behind other countries in property price increase.

If anyone thinks the high price now is not favourable, you'll in for another surprise when we go through another round of appreciation.

In many countries, unaffordable homes are a common bane. We are lucky in the sense we have a lot of government built or controlled homes. Once this is taken away and market forces alone dictate home prices, I can only say, 'brace for impact'.

Its easy for armchair analyst to say don't buy now because price has went up so much. I think everyone knows the adage, 'buy low and sell high'. Same goes for stocks, commodities, currency, unit trusts, and any other form of investment. But when is high, and when is low?
And remember, there is a big difference between investing in a home as opposed to those aforementioned. You can stay in the house you bought until the price is right.

At the end of the day, I'd say, if you can afford it, anytime is the right time to buy a good location property.