KUALA LUMPUR (Jan 20): The first half of 2012 (1H12) is expected to see more new property development launches despite concerns of a market slowdown, according to a survey conducted by the Real Estate and Housing Developers' Association of Malaysia (Rehda).
The survey showed 63% of respondents, made up of developers, have plans to launch projects in 1H12, up from the 45% obtained in a similar survey in 2H11.
The Rehda Property Industry Survey for 2H11 was conducted in December 2011 with 148 development companies responding.
According to Rehda Wilayah Persekutuan (KL) branch chairman NK Tong, "There was a downtrend in anticipated launches in 2012 earlier — but in the next six months, 63% of the respondents planned to launch new developments," he said at a media briefing on Thursday.
"This is what they plan to do, and it will be very interesting to see what really happens in the next six months," he added.
The respondents also anticipate better sales performance and 56% of the respondents planned to launch landed property as opposed to 44% for strata property.
The report also showed that 44% of respondents expected an increase in property prices in 1H12 compared to 53% in 2H2011.
The survey recorded 74% of respondents feel that the price movement is on an upward trend spurred by the increasing cost of land prices and building materials, higher compliance and higher market demand.
The survey also highlighted problems faced by Rehda members regarding unsold units, mainly unsold bumiputera-allocated units within the RM250,000 to RM500,000 price bracket.
The number of respondents with unsold units increased to 69% in 2H11 from 65% in 1H11 and 61% in 2H10. Another reason for the increase in unsold units was the low market demand amid economic uncertainties.
According to Rehda president Datuk Seri Michael Yam, the government should formulate concrete policy regarding the automatic release of unsold bumi lots.
He explained that there are some areas where such units were not well-received by bumiputera buyers.
In some cases, the bumiputera buyers themselves do not approve of the bumi lots as they are denied the benefit of selling their properties at a much higher price as in the case of non-bumi units.
"The government needs to look into this matter since there is no clear cut policy on the auto-release of bumi lots," he said.
Yam said 2012 will be a challenging year for developers as rising building materials and labour costs continue to be a major challenge for the industry. Members are also cautious about the market conditions considering the stricter requirements imposed on the housing industry, the uncertain global economy and inadequate information and data regarding property demand and supply.
Rehda also announced that the Malaysian Property Exposition (Mapex) will be held from March 2-4 at the Mid Valley Exhibition Centre. The property event is considered the largest convenient one-stop centre for property developments that are under construction and recently completed.
This year, Rehda will be expanding the number of booths for the expo and opening its doors to foreign property developers, including those from the UK, China and Australia, to showcase their products here. - The Edge
The survey showed 63% of respondents, made up of developers, have plans to launch projects in 1H12, up from the 45% obtained in a similar survey in 2H11.
The Rehda Property Industry Survey for 2H11 was conducted in December 2011 with 148 development companies responding.
According to Rehda Wilayah Persekutuan (KL) branch chairman NK Tong, "There was a downtrend in anticipated launches in 2012 earlier — but in the next six months, 63% of the respondents planned to launch new developments," he said at a media briefing on Thursday.
"This is what they plan to do, and it will be very interesting to see what really happens in the next six months," he added.
The respondents also anticipate better sales performance and 56% of the respondents planned to launch landed property as opposed to 44% for strata property.
The report also showed that 44% of respondents expected an increase in property prices in 1H12 compared to 53% in 2H2011.
The survey recorded 74% of respondents feel that the price movement is on an upward trend spurred by the increasing cost of land prices and building materials, higher compliance and higher market demand.
The survey also highlighted problems faced by Rehda members regarding unsold units, mainly unsold bumiputera-allocated units within the RM250,000 to RM500,000 price bracket.
The number of respondents with unsold units increased to 69% in 2H11 from 65% in 1H11 and 61% in 2H10. Another reason for the increase in unsold units was the low market demand amid economic uncertainties.
According to Rehda president Datuk Seri Michael Yam, the government should formulate concrete policy regarding the automatic release of unsold bumi lots.
He explained that there are some areas where such units were not well-received by bumiputera buyers.
In some cases, the bumiputera buyers themselves do not approve of the bumi lots as they are denied the benefit of selling their properties at a much higher price as in the case of non-bumi units.
"The government needs to look into this matter since there is no clear cut policy on the auto-release of bumi lots," he said.
Yam said 2012 will be a challenging year for developers as rising building materials and labour costs continue to be a major challenge for the industry. Members are also cautious about the market conditions considering the stricter requirements imposed on the housing industry, the uncertain global economy and inadequate information and data regarding property demand and supply.
Rehda also announced that the Malaysian Property Exposition (Mapex) will be held from March 2-4 at the Mid Valley Exhibition Centre. The property event is considered the largest convenient one-stop centre for property developments that are under construction and recently completed.
This year, Rehda will be expanding the number of booths for the expo and opening its doors to foreign property developers, including those from the UK, China and Australia, to showcase their products here. - The Edge
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