SINCE the reopening of international borders in April this year, transactions in the Johor property market have been off to a good start.
In spite of the uncertainties brought about by macroeconomic factors and the elections, KGV International Property Consultants (M) Sdn Bhd director Samuel Tan is hopeful that the steady trend so far will continue until the end of the year.
CLICK TO ENLARGE
“There are many buyers that are adopting a ‘wait and see’ approach, pending the outcome of the elections.
“The total volume and value of transactions are expected to be marginally higher than the preceding quarter and certainly much higher than the previous year’s corresponding quarter, due to the low base then,” he tells StarBizWeek.
Tan is hopeful that sentiment post elections will be positive, but adds however that the increasing cost of borrowing and high inflation rate could hamper the market.
CBRE|WTW in its property market performance for the first half of 2022, says the Johor property market may show further improvement towards year-end.
It adds however that concerns about affordability, job security and economic instability may dampen sentiment.
“Rental demand is also expected to rise following more Malaysians either resuming or joining the labour market to-and-from Singapore.”,
,Sân Chơi Đánh bạc（www.84vng.com）：Sân Chơi Đánh bạc（www.84vng.com） cổng Chơi tài xỉu uy tín nhất việt nam。Sân Chơi Đánh bạc（www.84vng.com）game tài Xỉu Sân Chơi Đánh bạc online công bằng nhất，Sân Chơi Đánh bạc（www.84vng.com）cổng game không thể dự đoán can thiệp，mở thưởng bằng blockchain ,đảm bảo kết quả công bằng.
Knight Frank Research in its Malaysia Real Estate Highlights report for the first half of 2022, says the high-rise residential segment in Johor Baru continues to remain lacklustre due to the oversupplied market and lack of demand. “In contrast, demand for landed residential properties, especially those located in established areas and upcoming suburbs with good connectivity, remains strong post pandemic.
Knight Frank also says the recent hike in interest rates may dampen the property market, especially in the residential segment.
On the mend
Tan believes it may take a while for the Johor property market to fully recover back to pre-pandemic levels.
“I believe it will take another year before conditions improve. Hopefully, there will not be any black swan incidents which may disrupt this expectation.
“The important thing is to adapt to these changes and realise that property investment is a long-term game.
“It is less consequential if the purchase is for our own use. Speculation is not encouraged when the market is uncertain and the property is suffering from some indigestion.”
Tan expects the ongoing headwinds to continue at least until the first half of 2023.
Tan: The important thing is to adapt to these changes and realise that property investment is a long-term game.,