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WTW Property Market 2011 C H Williams Talhar & Wong C H Williams Talhar & Wong WTW Property Market 2011 C H WILLIAMS TALHAR & WONG Established in 1960, C H Williams Talhar & Wong (WTW) is a leading real estate services company in Malaysia and Brunei (headquartered in Kuala Lumpur) operating with 25 branches and associated offices. WTW provides Valuation & Advisory Services, Agency & Transactional Services and Management Services. HISTORY Colin Harold Williams established “C H Williams & Co, Valuer & Estate Agent” when he set up office in Kuala Lumpur in 1960. Messrs C H Williams Talhar & Wong was formed in 1973 following the merger with Johor based Talhar & Co (Valuer & Estate Agent) and the inclusion of Dato Wong Choon Kee. PRESENT MANAGEMENT The Group is headed by Chairman, Mohd Talhar Abdul Rahman who guides the group on policy developments and identifies key marketing strategies which have been instrumental in maintaining the strong competitive edge of WTW. The current Managing Directors of the WTW Group operations are: ► C H Williams Talhar & Wong Sdn Bhd Foo Gee Jen ► C H Williams Talhar & Wong (Sabah) Sdn Bhd Chong Choon Kim C H Williams Talhar & Wong ► C H Williams Talhar & Wong & Yeo Sdn Bhd (operating in Sarawak) Robert Ting ► WTW Bovis Sdn Bhd Dinesh Nambiar 2 Chairman’s Foreword resuscitated space, can generate their trades and on how much was spent to refit the buildings on top of the acquiring cost of the landed assets in the first instance. There are still nonetheless many buildings in major towns and cities which remain unproductive. These bear witness to the excesses of our past euphoric boom periods. Renewed awareness and urgent re-thinking in solving urban blight is as much a priority if the well- being of our urban environment is to rise in tandem with the country’s expected economic transformation. In similar vein, the large scale release of institutional land or grey-sites for urban regeneration in the nation’s capital need to be looked at beyond the volume of construction work it can generate and the downstream Mohd Talhar Abdul Rahman economic activities the work can generate. Being ORD realistically clear that the scheduling of the supply and the quantum of the space coming on stream will match W This past year has seen a return of active property the functional needs of the populace is critical to the transactions in the mass residential market. The success of the move. The nature of urban activities resurgent interest in houses in established areas in and these functional needs are in a state of flux with the re-sale market in different parts of the country the fast changing urban trends. Successful outcome is of particular significance. The discount for these and preventing the risk of severe mismatch will require ready-built older houses must have proved sufficiently greater concerted and wider participatory approach attractive as compared to the newly launched offerings involving feedback from informed interested parties. in the market, considering the easier credit terms and In the past year the conjunctive effort to re-focus on transfer facilities afforded to buyers of new residential and rationalize the mass rapid transportation system units. The re-sale market tended to be of secondary in Kuala Lumpur helped buttress the growing sense of interest when considering the mass housing market. confidence in the effort to take the nation’s capital city This apparent interest in re-sales could be the cue to dealing with the stock of houses remaining vacant into the top league of world cities. The efficient mobility and unoccupied in many of our towns. With more of the city’s resources is a prerequisite to its well-being. airman’s Fore accommodating price discounts and given more liberal Land use may change and values may vary, but location credit facilities to purchasers, the re-sale market could remains the prime determinant of choice and eventual H well take care of the segment of the market that will not value. An efficient mass rapid transportation system C be able to catch up with the rising affordability level. can help distribute and spread locational advantages This would not affect the performance of established to a wider area. It will effectively transform the urban and well financed developers of good repute in the economy of the Capital City. already revived market for new units in the medium On a similar strain, the improved accessibility of Kota and higher end. Kinabalu and Kuching from other cities in Asia Pacific The year also saw more incidence of rehabilitation of region has enabled the eastern States to further stalled commercial buildings. The success of these capitalize on their tourism potential. And similarly the efforts would depend on how well the target users, connectivity factor is highly contributory to Iskandar viz those who will be operating the businesses in the region’s progress in meeting its objectives. 3 PROPERTY MARKET REPORT 2011 State of the Malaysian Property Market 2011 Drawing on the WTW professional practice over the past 12 months throughout the 13 Malaysian states, covered by 22 branches, the Directors and Key Branch Managers of WTW are pleased to declare that the Malaysian Property Market improved moderately in 2010. However, the Property Market has never been a homogeneous market and therefore prices and transactional activities can vary widely for different sectors and different localities. Overall, property prices in 2010 increased more in the Klang Valley, Penang, Johor, Melaka and Sabah as compared to the rest of Malaysia and this trend is expected to carry into 2011. The landed residential market segment registered Overall Property Market better than moderate increases in terms of Transaction Activity Prices 2010 Prices 2011 transactions and prices throughout Malaysia which in 2010 Klang Valley is expected to be sustained in 2011. North South Transactions in the condominiums segment were East moderately better in 2010 except in the East Coast Sabah states where trends remained flat. Condominium Sarawak selling prices in 2010 generally increased strongly in T 2011 the Klang Valley and northern states and this trend E will continue into 2011. Landed Residential Condominiums Transaction Prices Prices Transaction Prices Prices K The office segment remained stable in the southern Activity in 2010 2011 Activity in 2010 2011 2010 2010 and east coast states while the Klang Valley, Sabah Klang Valley and Sarawak managed moderate growth. North South Transaction activity in the retail market segment was East MAR better in Johor and Melaka but in the rest of Malaysia, Sabah Sarawak transactions and prices were stable or moderate. In 2011, prices of retail properties in the Klang Valley TY and Johor/Melaka are expected to improve but remain stable to moderate in Sabah and Sarawak Industrial ER and remain stable elsewhere in Malaysia. Transaction Activity Prices 2010 Prices 2011 over 2009 P Klang Valley The shopoffice segment also recorded better North increases in transactions and prices throughout South East RO Peninsula Malaysia and prices in 2011 are predicted Sabah P to further improve. Sarawak In 2010, industrial property transactions and prices in the Klang Valley Office Retail Shopoffice improved better Transaction Prices Prices Transaction Prices Prices Transaction Prices Prices but elsewhere the Activity over 2010 2011 Activity over 2010 2011 Activity over 2010 2011 2009 2009 2009 increase was only Klang Valley moderate. In 2011, North industrial property South East prices are predicted Sabah to improve moderately Sarawak throughout Malaysia. Note: The colour codes represent the following: RED-Better, Yellow-Moderate (+), White-Stable. 4 Malaysia Overview In later years, 2010 may be remembered as the being the major contributors. Despite the contraction watershed year of Malaysia as the Malaysian in global trade, the balance of payments is expected Government under the leadership of Y.B Datuk Seri to remain favourable with a current account surplus of Najib Tun Razak unveiled its plan to transform the RM109 billion or 14.6% of GNI. nation into a high income nation through three major development initiatives: Exports growth moderated on slower exports of 1. The NEW ECONOMIC MODEL unveiled in electrical and electronic products. March 2010 (mapped out the basis of growth and development) The inflation rate in 2010 was 2.3% and prospects for 2. The 10th MALAYSIAN PLAN released in June the Malaysian economy growth in 2011 are expected 2010 ( financial development allocations for the to be strong, with a growth rate of about 5% - 6%. next 5 years) and, 3. The ECONOMIC TRANSFORMATION PROGRAMME launched in October 2010 The FBM KLCI Index crossed over the 1,500 points W (identified the National Key Economic Activities, in October 2010 and strengthened further following 131 Entry Point Projects and 60 Business continued buying support from institutional investors. Opportunities) In summation, the Government is seeking to achieve Bank Negara Malaysia raised the Overnight Policy an average GDP growth of 6% per year for the next Rate (OPR) twice in March and May 2010 and again in July 2010 to 2.75% as the Government was confident ten years and to increase gross national income from VERVIE USD8,260 to USD12,140 by 2015 and USD15,000 by to adopt a more neutral stance amidst the economy’s 2020. recovery. O Five strategic thrusts were identified by the Government: Also in July another round of government subsidy SIA 1. Government Transformation reductions were implemented which raised sugar, 2. Conducive Business Environment LPG, petrol and diesel prices. Y 3 Inclusive Socio-Economic Development 4. First World Talent Base Malaysian property firms continued to be internationally 5. Enhanced Quality of Life Environment recognised for innovative property development ALA While some growth acceleration is a foregone designs and concepts and won their fair share of conclusion, meaningful achievements will depend on awards at the Asia Pacific Property Awards held in M successful execution of the projects announced and Hong Kong in April 2010: the strong political will to push through tough reform 1.
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