Property Market in economy down turn estimate to rebound in two years. One of the Property Developers was show a good selling result for the property in Malaysia. At this point in time, SP Setia Bhd did not specify a target because the property market was so bad. SP Setia Bhd’ wanted to test whether this `5/95 programme` will work, and apparently it works very well.

SP Setia Bhd (Malaysia’s No.1 property developer in The Edge Malaysia Top Property Developers Award and Euro money Real Estate Awards in 2005, 2006 and 2007) recently launched 5/95 Home Loan Package has achieved better-than-expected sales of RM300mil amid the softening economy. RM300mil sales in less than two months is very good result in uncertain economy. The RM300mil sales figure was based on bookings made.

Launched on Jan 19, SP Setia’s 5/95 Home Loan Package allows home buyers to pay only an initial 5% of the price of the house while all legal fees and stamp duty on the sales and purchase agreement, among other benefits, will be borne by SP Setia. 0% interest during property under construction period. The package is available until April. Read more »

Property in Malaysia & Malaysia’s real estate investment trusts (REITs) have been sold down and are trading below their net asset values (NAV), made worse by the softening property market and weakening rent yields.

The challenges facing REITs is not only the negative property market sentiment towards equity, but also the inability to raise capital growth due to tightening credit. Despite the challenging economic conditions this year, REIT managers in the country are confident they can mitigate the impact by looking at various options to raise capital, acquiring properties prudently and focusing on existing assets to ensure strong tenancy.

Axis REIT Managers Bhd chief executive officer and executive director Stewart LaBrooy said part of the growth process of a REIT was to continuously acquire properties to enlarge its portfolio.Axis REIT would not discount the possibility of future acquisitions this year although it may not be as intensive as y2008.
But any potential acquisitions will need to be yield-accretion. Read more »

It’s good news for property investor those interested in Australian property and the retired plan is to migrate to Australian. An exciting and prestigious international property event will take place soon in Kuala Lumpur and Penang.

There have been numerous real estate exhibitions in town but the Australia & International Property Fair 09 will display entirely international projects, focusing mainly on Australian Property. The event will showcase all types of commercial and residential projects by established Australian property and international developers.

Interested home buyers or property investors should therefore mark their calendars for the upcoming Australia & International Property Fair 09 that is expected to offer a variety of choice properties. Read more »

The property sector in the country is likely to weaken further amid worsening economic conditions with the malaysia property market expected to rebound in two years. Property consultanty firm Rahim & Co Chartered Surveyors make the note porperty investors.

Executive chairman Datuk Abdul Rahim Rahman said people were getting more prudent with their spending, adopting a wait-and-see attitude that has resulted in the property market getting softer.

The price of luxury condominiums in Kuala Lumpur City Centre (KLCC) for example are down 15% to 20 %”. Apart from that, the ongoing buildings development activities outside the central business district may push down the rental rate for offices when they are ready by 2010 – 2011 as a result of oversupply of office space. Malaysia property market getting influence during the current economic uncertainty. Read more »