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Prudent Growth Quantum JANUARY - MARCH 2020 2020: Prudent Growth Quantum 2020 is a significant year in many ways. Accordingly, the Metal Rat has been Not that the professional real estate It marks the start of a new decade, hailed to kickstart new beginnings practice would admit such factors into the Olympics returning to Tokyo for and renewals, this is said to be an the calculations, it nevertheless has an the second time and the World Expo auspicious year for those who have influence to some common beliefs at where countries of the world come yearned to be calibrated for a new the workplace, especially for Chinese- together to exhibit in one place and season. It is also touted to make 2020 run enterprises and family-owned this time they will convene in Dubai in a strong, prosperous and lucky year businesses who have abided by the October. For the Chinese, 2020 also because from metal, it produces conventional customs and wisdoms for represents a new beginning as the water and this is said to be ideal for generations. Lunar or Chinese New Year will usher productivity especially for those related in a new calendar cycle, starting with in the metal industry. In spite of this, And speaking of generations, Malaysia the Rat and to be more specific, it is the there were also contrasting views from is now experiencing a change in its year of the Metal Rat. renowned metaphysicians. demographic make-up where the JANUARY - MARCH 2020 HERALD 1 market outcome will only be realised when these factors have a definite resolution or that they have come to a harmonious conclusion. All is Not Lost Judging from the measures announced by the Finance Minister at the tabling of the Budget 2020 on 11 October 2019, of importance are the shots in the arm for the younger would-be property owners in the form of the Youth Housing Scheme (YHS; for ages 20 to 40) and Rent-to-Own (RTO; for M40 and B40 groups) concept. The purposeful allocation to extend a helping hand to these groups makes logical sense as the country as a whole can rebound on a stronger footing when her citizens are backed by an innate confidence Landed properties are still the perennial favourite among Malaysians as shown in the Home Owner- stemmed from their personal wealth ship Campaign 2019. standing. The multiplier effect from a wiser use of personal funds including society is also aging fast. This has which was revised from the RM3 billion the availability of disposable income prompted developers to cater to the set initially for the half year campaign. can be economically powerful as needs of this segment and equip new Those eyeing for affordable homes demonstrated by neighbour Singapore; townships with healthcare, wellness were likely to be the most rewarded a tiny republic without much natural and related sub-sectors facilities. This due to the incentives extended during resources but has leapfrogged ahead could also have led to the slower the campaign. into the top tier of the global economy. market movement in recent years And from 1 January 2020, they too because big ticket items such as a But looking at the official tally from stand to benefit from the welcoming home would have been bought many NAPIC and up to H1 2019, the market measure of allowing foreigners to buy years ago. recorded 160,172 transactions at a lower rate where instead of the worth RM68.30 billion registering an usual RM1 million threshold, foreigners But undeterred, property developers increase of 6.9% in volume and 0.8% can now enjoy owning a primary like EcoWorld has projected a growth in value as compared to H1 2018’s market property from only RM600,000 of RM12 billion for 2019 and 2020 while 149,862 transactions worth RM67.74 or less than S$200,000 and no more Sunway Property Bhd affirmed a sales billion. Residential property leads the than US$150,000. target of RM2 billion for 2020 coming overall property sector with 62.4% on the back of a RM1.55 billion sales market share. There were also 99,922 Although foreign purchases in in 2019. Just as optimistic was also residential transactions worth RM34.65 Malaysia on the whole remains a small LBS Bina Group Bhd with a projection billion recorded in H1 2019, up by 6.1% fraction of the market, this revision may of reaching RM1.6 billion in 2020 in volume and 9.5% in value. Sales nevertheless repositions Malaysia and supported by the same target in 2019. performance in H1 2019 was better at attract more foreign interest into buying 30.9% against the same period in 2018 residential properties here. The minor The Malaysian property market has by at 20.1% or even H2 2018 at 29.2%. But boost it may provide will go a long and large endured a rather quiet run are these good yardsticks to measure way, more so in the affluent addresses in the last few years. The severity of the 2020? like KLCC, Mont Kiara, Bangsar and slowdown has been branded as an selected locations in Penang, Johor impending death row. But thankfully From our observation, the uptick Bahru and Kota Kinabalu where such the market was saved in 2019 when generated from the HOC2019 may foreign purchases tend to congregate the government consented to hold a have been a well thought out at. Home Ownership Campaign together strategy for the market but to see the with the Real Estate and Housing momentum carry through to 2020, it Down south in Johor, the Singapore Developers’ Association (REHDA). would depend on the strength of the factor will continue to stand as a From an initial plan of six months, the country’s economy and at present, pillar of strength because of the Home Ownership Campaign 2019 dark clouds hovers at the background. symbiotic relationship between the (HOC2019) was extended to the entire Chief among them is the trade tensions two. Johoreans who are employed in year. The results although not final at between US and China. There is also Singapore will almost naturally park the time of writing has shown promising anxiety over the likelihood mess from their hard earned money back in figures. Brexit, the unresolved protests in Hong Johor and first among their long term Kong, not forgetting our domestic ambition is to purchase a residential As of 11 November 2019, the HOC2019 political situation which has yet to home. This in itself will drive the has clocked in RM17.66 billion sales affirmatively pin down a date for the supply side to continue churning out out of 27,823 residential units sold. handover of the country’s premier residences to satisfy the acute desire This exceeded the RM15 billion target, post. Conclusive prediction of a good for homes as urbanisation of Johor 2 HERALD JANUARY - MARCH 2020 Bahru continues with newer and better accumulated rent will be converted as two commuting projects, more than 60 public facilities. 10% down payment for the homes. locations across the 11 intermediate KTM Southern Line stations (EDTP), 3 Klang Valley From the economic corridor of Bus Rapid Transit (BRT) Hubs and 50 Over in Klang Valley, attention is still very Iskandar Malaysia, it is also on track to bus stations (First Phase only) will stand much on the landed properties with exceed its targeted investment sum of to enjoy better convenience and with bulk of the attention at the HOC2019 RM383 billion by 2025. Already by 1H19, it, rise in social and communal activity, going to those priced below RM750,000 39% of the total investment received real estate demand and appreciation including the strata residences. were foreign direct investments with of property values. The EDTP is slated for Properties priced below RM500,000 China investing the most at RM40.65 completion in early 2022 while the BRT’s were even more popular as are projects billion followed by Singapore’s RM20.57 first phase of 51km (300km in total) is located near the LRT or MRT stations. billion. In the same vein, deep pockets scheduled to begin in early 2022. institutional and high net worth The revived Bandar Malaysia will investors may also see the appeal of On the immediate horizon however, also witness some movement as the development lands in strategic spots in bright spots are expected in the leisure government has announced that the Johor to be attractive given the strong and commercial sectors as the state is township will see development of a Singapore factor. This compelling hosting Visit Johor 2020 in conjunction People’s Park and an additional 5,000 reason is further boosted by the highly with Visit Malaysia 2020 (VM2020), and affordable homes to support the vision anticipated Rapid Transit System (RTS) the national sporting games of SUKMA of home ownership. linking Bukit Chagar in Johor Bahru 2020. Inbound supporters cum tourists and Woodlands in Singapore which will to the state may lend some weight to As a point of reference, affordable ease the congested Causeway and boost the property sector as well as the homes were initially defined as Second Link traffic. Affirmation by the Johor economy. RM150,000 homes targeted for the government of the RM3.16 billion RTS, lower income buyers who are also reduced from RM4.93 billion, was finally But how far can the tourist dollars go provided with a concessionary 3.5% given the go ahead on 4 November to support Malaysia’s property market? interest rate. This ceiling limit has 2019 after being shelved previously Realistically, this should not be classified since been expanded to RM300,000 due to its high price tag.
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