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Tey Yong Qing -Malaysia Housing Market And Property Update

According to Tey Yong Qing after the Malaysian government implemented total lockdown as a means to curb the spread of the Covid19 virus.

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Tey Yong Qing -Malaysia Housing Market And Property Update

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  1. MALAYSIA HOUSING MARKET AND PROPERTY UPDATE TeyYongQing

  2. The pandemic in 2020 affected the property market in Malaysia greatly in such a way that real estate investors have to consider very well before buying property.

  3. According to Tey Yong Qing after the Malaysian government implemented total lockdown as a means to curb the spread of the Covid19 virus.

  4. Many of the property developers had to suspend constructions during the lockdown period, all of which contributed to Malaysia having very low property transactions that year in comparison to previous years. Property Malaysia showed recovery in 2021 when the lockdown was lifted and the economy reopened.

  5. OUR TRACK RECORD OF SUCCESS WHAT SHOULD BE EXPECTED IN THE MALAYSIA HOUSING MARKET Towards the end of 2021 there was little improvement in the property market and the Home Ownership Campaign program is part of what contributed to the improvement. As the variants may affect the recovery of the market, the rise in the price of building materials and the interest rates that can increase anytime soon.

  6. All these can cause the market not to recover as expected this year. But as the government plans to stabilize the economy and as consumers begin to secure jobs, interest in buying property will increase.

  7. Despite all the sentiments in the market presently buyers can still take advantage of the low interests to buy property as the market is expected to continue to recover. Looking at the performance of the property market in Malaysia towards the end of last year it may be the right time to start buying properties.

  8. TEY YONG QING Real Estate Agent There is a possibility to see the renovation of old office buildings for other purposes or to meet up with the new demand from companies. The office leasing market will experience an increased vacancy rate as there is more supply and less demand.

  9. Improve Activities In Residential Market

  10. Thefirsthalfoftheyearmightbechallengingtosomeextentbutthe residentialmarketisexpectedtoseeimprovementintransactionsthis year. Mostofthosebuyingpropertyintheresidentialsectorarefocusing onlandedhomes.

  11. Probably due to the affordable price and the closeness of the apartment to essential amenities. Buyers are focusing on such properties.

  12. INCREASE DEMAND FOR INDUSTRIAL REAL ESTATE Therewasanincreaseddemandforwarehouseswherecompaniescanstoretheir productsandgoods. Theneedforwarehousefacilitiesandrentalisstillexpectedto increasethisyear.

  13. During the lockdown period, people were prohibited from viewing property physically and conducting any physical sales which affected the sales of properties. Though some real estate agents have to adopt the use of technology by providing virtual tours and online sales of property. Many still prefer physical viewing and because of the pandemic, people are now searching for property in suburban.

  14. Despite all that is happening in property Malaysia there are still opportunities for those that are ready to take it. With the response received from people after the opening of the retail malls, it is evident that retail property is going nowhere anytime soon.

  15. In conclusion

  16. The recovery of the Malaysian housing market can be hindered by the weak economy, high property prices due to costly materials and restrictions on loan applications. With various programs and initiatives, the Malaysian government has put in place to boost the property market and help people own their properties.

  17. Hopefully, proper emergency response and disaster management plan will be put in place before the next monsoon, says Tey Yong Qing. The market is stabilizing but let's see how it all plays out throughout the year.

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