I've just booked a Penang island high rise for own stay, and I am now thinking of chicken out. Looking at the falling of world wide share index and Singapore's recession announcement, things really doesn't look good to buy any new property now. Worst thing is that Malaysia government is still confusing of our country's economy status now...

I believe the property price will fall by 10-20% by next year base on the below:
1. Oil price is falling
2. Steel price is dropping
3. Share market drop (people, especially foreign investor to start selling their property to cover losses)
4. Very high possibility of recession

BNM is expecting to drop interest rate by 0.5 next year. If that is true, that could help sustaining the property price a bit but I doubt it will help much when people are making huge losses in the share market and lost their job.

Unless you are very desperate, I will not advice anyone taking up loan while the property price have tendency to drop. If you're to sign up for any loan, please make sure you have at least 20-30% of cash of the loan amount you've just asked for. In case the property price drop, the finance institute may ask you to fill up the differences with cash. Do think twice, the long awaited property bubble burst may happening within next 6 months. Just my 2 cents...