Property market activity has actually been on an upward trend since the Recovery Movement Control Order was implemented.
The secondary market enjoyed a run immediately after the RMCO was implemented. Reality will kick in once the moratorium on loan repayments ends, but it will be mitigated by an expected increase in auction properties and purchasers looking for better deals. He believes homeowners want to take advantage of the exemption on Real Property Gains Tax for up to three properties and see a need for financial consolidation following the effects of the pandemic on the economy and businesses.
“In terms of outlook, it will be moderate to mildly bullish. Borrowing cost is at an all-time low and supply is reducing owing to limited launches. “It is anticipated that once borrowers resume payments, transactions for sub-sale properties may slow down and terraced houses will be most in demand.”Property Advisor’s analysis showed that Klang had the most secondary-market transactions in 2018, with 1,816 in total. The number decreased by 27.26% to 1,321 transactions last year.
In Kajang, there was a dramatic decrease in transactions of 28.42% to 922 last year, from 1,288 in 2018. The median price in Kajang also decreased by 6.5% to RM467,500 last year from RM500,000 previously.