Demand for property remains stable despite challenges

KUALA LUMPUR: Despite the economic and political challenges in the country, demand in Malaysia's property market has remained stable, said Andaman Property Management Sdn Bhd managing director Datuk Seri Vincent Tiew. 

He said investors, mainly repeat and first-time home buyers, still continue to purchase and place bookings on new projects although there is a 50-50 chance for loan approval.

"The perception and general sentiment says that the market is doing badly, but the truth is, the sales continue and the buying momentum is consistent, not only from the rich but also in the mass segment.

"So the demand is still there, only that they have to see the right property type," he told reporters on Tuesday.

WMA Chief Executive Officer Datuk Terry Ong said the convention aims to help investors on upcoming market movements and trends for 2015 and the first quarter of 2016.

"Experts will present on various topics on investment strategies such as land acquisition, infrastructure benefits, developer movements and government policies, to share with the almost 1,000 participants we expect in this convention," said Ong.

Meanwhile, BIG Plots Sdn Bhd Director Tan Hwa Chuan, who is one of the speakers, said the convention also hopes to educate investors and home buyers on how to continuously purchase despite the current negative sentiment in Malaysia.

"The current scenario is not as bad as in 2008 (global financial crisis), and some who have knowledge including overseas investors from China, Hong Kong and Singapore have continued buying, but they are buying it quietly because there is always a good property deal.

"The issue is they need to wait for the trigger point when the market rebounds, and when that comes, they will be the first to catch the 'wolves'," said Tan. - Bernama