THE property market for next year will be buyer-focused as various government initiatives allow more people, especially first-time home buyers, to own property, said Jeffrey Cheah Institute of South-East Asia Economic Studies Programme director Dr Yeah Kim Leng.
With policies such as stamp duty waivers for properties under RM300,000 to RM1mil, people would be encouraged to buy.
“I think it’s a buyers’ market as they have more choices to make and can take their time to asses their opportunity.
“On the impact on the property market, from Budget 2019, we find that there are quite a number of incentives and, of course, there is also the national house ownership campaign for homes up to RM1mil.
“This is an additional incentive to allow buyers to buy within the first six months of next year, rather than wait,” he said.
Yeah added that for the time being, the market was shifting towards the affordable market segment to allow those especially in the B40 income group to own a home.
He also lauded the Government’s decision to allow crowdfunding as an alternative method to obtain financing.
“That shift is significant to ensure that the B40 group, especially first-time owners, can have access to housing.
“The crowdsourcing platform is another way to encourage investors. In the current era of digital disruptions and innovation, it’s good to see some policy experimentation,” he said during the StarProperty.my forum 2018.
The forum featured esteemed speakers such as Ho Chin Soon research founder, Ho Chin Soon, UMLand group managing director Datuk Charlie Chia Lui Meng, Eaglenest Realty principal Ong Poh See, Environology dot com Sdn Bhd director and consultant Steven Chin, Syarikat Ong managing partner Agnes Wong, seasoned property investor and speaker Teoh Eng Poh and Asian Land Realty Sdn Bhd director Warrick Singh.
StarProperty.my 2018 is a forum held by the property platform to provide insights on the market and help readers make informed decisions when it comes to buying property or investing.