52,666 Unit kediaman TAK LAKU. Semestinya PH nampak idea nak jual pada China, Ho

R2D2

Residential overhang remains a major concern
By Kathy B. - December 6, 2019 @ 6:29pm

THE residential overhang in Malaysia is a direct result of the supply-demand imbalance in the market, as developers continue to build properties which buyers cannot afford to purchase, says property experts.

The overhang was most recently estimated at 52,666 units in the second quarter of 2019. This includes 32,810 residential units, 18,186 serviced apartment units and 1,670 SoHo (small office home office) units, based on statistics by property consulting firm, Nawawi Tie Leung Property Consultants Sdn Bhd.

PropertyGuru Malaysia country manager Sheldon Fernandez said, the amount of overhang residential properties is because of affordability and loan financing challenges for Malaysians.

Fernandez said, there is also the demand-supply imbalance in the market, as developers gravitate towards the higher margins for luxury and high-end launches.

Home seekers cannot afford properties or the loans required to purchase them, he said, adding that the ongoing issues facing the domestic property market are set to continue into 2020.

"The pressures driving these issues are complex and interrelated and have been building for decades, leading to calls from some quarters for a fundamental restructure of the property industry in Malaysia," Fernandez said at the PropertyGuru 2020 Market Outlook Forum here yesterday.

Fernandez pointed out that Budget 2020 has taken several steps towards addressing this, through both interim and long-term measures.

Short-term measures aimed at easing home ownership challenges among Malaysians include the Home Ownership Campaign (HOC) and Bank Simpanan Nasional’s (BSN’s) Youth Housing Scheme (YHS), both of which have been extended from their original time frames.

Fernandez hoped that these measures, along with the current emphasis on rent-to-own (RTO) schemes, are able to address home ownership among younger and first-time purchasers.

The HOC, as well as provisions for lowered purchasing thresholds for international purchasers, should reduce the ongoing residential property overhang, he said.

"With regard to loan financing, Bank Negara Malaysia (BNM) has seen an uptick in defaults from 2018 through 2019, particularly among those with variable income and those with properties worth more than RM500,000.

“These issues are not limited to the Malaysian property market, and are a product of increasing population pressure and decreasing land availability in urban hot spots. As more purchasers compete for fewer properties, prices are driven up, with developers catering to segments with higher profit margins,” says Fernandez.

Fernandez said that in Malaysia, these trends are underscored by perceptions of income stagnation and rising costs of living.

(L-R): CCO & Associates director Chan Wai Seen, Jones Lang Wootton executive director Prem Kumar, PropertyGuru Malaysia country manager Sheldon Fernandez, Cagamas corporate strategy & communications senior vice president Leong See Meng, and Malaysian Institute of Estate Agents chief executive officer Soma Sundram Krishnasamy at the PropertyGuru 2020 Market Outlook Forum.

The Department of Statistics Malaysia’s (DOSM’s) most recent Household Income and Basic Amenities Survey reported the median monthly income in the country as RM5,228 in 2016, growing at a rate of 6.6 per cent per annum.

The Consumer Price Index (CPI), meanwhile, has grown at an average of 2.5 per cent year-on-year (YoY), with an increase of 1.1 per cent YoY in October.

"The disconnect between real and perceived inflation is explained by BNM as a function of frequency and memory bias. Regardless, with the benchmark for affordability set by US-based consultancy Demographia International as three times the annual household income, this means that the price ceiling for affordable housing was about RM188,208 in 2016. Today, this figure has been reported at RM282,000, while the average price for newly launched houses was RM417,262," said Fernandez.

Lacklustre year ahead

Fernandez said, the mixed macroeconomic indicators point towards a lacklustre year ahead for property.

"The US Federal Reserve cut interest rates three times this year, with BNM following suit in May and analysts projecting another potential cut mid-2020. These moves have the effect of creating positive interest rate environments at home, and abroad," he said.

Fernandez said this is conducive to home purchases in the short term, with prospects for capital appreciation in the long run, as cheaper loans drive property prices up.

He also believes that an influx of interest from regional purchasers may cause an upswing in sentiment for the near future, driven by unrest in other markets such as Hong Kong as well as relaxed foreign ownership guidelines laid out in Budget 2020.

However, Malaysian Institute of Estate Agents (MIEA) chief executive officer Soma Sundram Krishnaswamy said during the forum that the number of Hong Kong property buyers purchasing properties here has slowed compared to the earlier days of protest.

“Based on the feedback from MIEA members, there was a big influx of Hong Kong buyers into Malaysia...right now after a few months, it has slowed down,” he said.

Soma also said the government’s move to lower the house price threshold for foreign buyers to RM600,000 from RM1 million won’t have any major impact on the domestic property market.

He said foreign buyers would look at areas like Kuala Lumpur to purchase a property and it would be impossible to get one there that cost RM600,000.

poison_paradise

Gaji tak seiring kenaikan harga rumah....

najib888

Pum pam pum pam.. harga tak turun2.. dok melalak property overhang..  hang biaq demand supply main harga, depreciation.. ada la yg beli

tagas

biar kan berlumut

kasi jin & segala hantu duduk

julielapadite

najib888 replied at 15-12-2019 02:59 PM
Pum pam pum pam.. harga tak turun2.. dok melalak property overhang..  hang biaq demand supply main h ...

Depa dok fikir mcm mana nak settle overhang sbb developer takde duit nak reinvest, salah satu cara dia jual kat foreigners leluhur so developer boleh invest kat projek lain. So sampai bila2 pun developer kaya raya ni takkan belajar from mistakes la. Clearly government is not representing citizen. They represent developer. Haktuihhh

HannahMontana

Zuraida babi !!!!!!!!!!!!!!

miss_strangers

Tahniah pengundi PH...xlama lagi Malaysia jadi chinasia..

slyfynx

X laku sbb mahal berbanding gaji.
Bukan sbb permintaan kurang
Bodoh

JohnnySins

nanti XXY_daen masuk habaq...dah tak mampu beli dok diam2 la...Tun M pandai..hangpa semua bowdow...lepaih tu letak gambaq emoji gelak...besa la oghang kaya lagu tu la mentaliti......wakakakakakakkakakakakaka

R2D2

paling terkesam dgn warga China semestinya IKEA
dia org akan buat spt di sana
pusat pameran tempat utk lepak, tidur

iwan007

HannahMontana replied at 15-12-2019 04:25 PM
Zuraida babi !!!!!!!!!!!!!!

Zuraida nenek lampir. Dah duiit gaji jd menteri byk2 tu pi la korea operate muka.

Padan la muka developer. Buat rumah kecik2. Pastu tak der sape yg nak beli sebab mmg x mampu. Booooo. Yg dah terbeli tu konon nak buat investment mmg org takkan sewa la. Tunggu jin hantu dtg sewa. Studio unit sempit gila babi expected rental above 1k. Haiiyyoooo berharap jer la

sapeka

julielapadite replied at 15-12-2019 03:41 PM
Depa dok fikir mcm mana nak settle overhang sbb developer takde duit nak reinvest, salah satu cara ...

Kan
Sepatutnya kena lebih mengutamakan rakyat
Pikirkan penyelesaian macam mana nak membolehkan rakyat mesti memiliki rumah paling kurang sebuah setelah mencecah umur 25- 30 tahun
Ini tak
Menjaga kebajikan orang asing ade la
Rakyat dia buat tak pandang
Jadah

bintangct

Korg perasan tak.. iklan2 rumah for sale dh merepek2 skg.. info misleading esp part location.. lps tu info pun tak cukup dlm iklan tu.. mostly drp agent2 rumah la.. gomen ni cuba kawal skit advertisement diaorg ni.. drp ada minat nak beli rumah langsung tak jd sb sikit2 nak kena isi form.. sikit2 nk kena PM.

AbukRokok

SOHO pun nak jual mahal2 sampai 300k.. dah la kt area kajang pemende tu kajang east? kajang2?

lemak_masin

Makin jahanam malaysia.. ingat dulu lebih baik.. semoga korang jatuh cepat laa ph oii..

HannahMontana

iwan007 replied at 15-12-2019 06:25 PM
Zuraida nenek lampir. Dah duiit gaji jd menteri byk2 tu pi la korea operate muka.

Padan la muka ...

mengandung juga dia dikerjakan oleh lakinya ...rupa mcm itu begitu turn off bagi aku .

Betul kata ko sepatutnya dia buat pembedahan plastik ,repair lah.

brego

kat malaysia ni, konsep supply dan demand tu tak relevan lagi.
sebab sekarang ada kerajaan bodoh, pegi buka market pada orang asing.
memang sampai kiamat la harga rumah naik mencanak takkan turun.
sebab bila rumah mewah ni tak laku, supply lebih dari demand,
mereka boleh jual dgn rakyat asing.

R2D2

rumah keluasan bawah 1000 kps pun lebih RM300K

akusukaq

  Ini baru betul malaysia tergadai. tergadai dibawah kera jaan PH haprak tahap gapan.

Atata

Korang baca tak ayat last tu, dia kata, tindalan kerajaan menurunkan harga pemilikan warga asing kepada RM600,000 tak akan membawa banyak perubahan kepada masalah hang properties ni kerana warga asing akan mencari rumah disekitar Kuala Lumpur yg mana mustahil ada harga properties RM600,000 d kawasan Kuala Lumpur.


So cashhh. Padan muka developer kalau proeprties dorang tak terjual. Suka nak buat rumah high end, hujung2 kosong org tak beli. Tamak, kalau buat rumah single storey untung tak besar, so saja buat rumah 500,000 ke atas supaya untung besar. Masalahnya org tamak selalu rugi.

Kalau kat taman perumahan, yg cpt habis mesti single storey. Haritu tgk harga rumah semiD double storey, beza harga yg intermediate dgn corner lot, RM100,000. Wawwww. Setakat rumput sekangkang kera tu dia up harga seratus ribu. Pastu sampai skrg rumah2 semiD tu masih kosong.