PETALING JAYA (April 21): The declining prices of properties on the secondary market – by as much as 6% in some cases – will affect primary market prices, prompting property developers to amend their offerings to control costs, said CBRE | WTW managing director Foo Gee Jen.
“These days, a developer would not give a top-grade finish all the way to cut costs and keep prices down. To me, this is driven by the secondary market,” the property consultancy head said in a report by The Edge weekly.
“So, overall, I expect 2018 to be a flattish market – volume may pick up a little bit, driven by transactions of affordable housing and homes priced below RM500,000,” he added.
The decline in property transaction volume and value has slowed, with annual drops of 2.7% to 311,824 transactions and 3.8% to RM139.84 billion respectively.
Residential properties continued to dominate the market, accounting for 62.4% of transacted volume and 49% of transacted value.
TOP PICKS BY EDGEPROP
Razak City Residences
Salak Selatan, Kuala Lumpur
Taman Tasik Semenyih (Lake Residence)
Semenyih, Selangor
Taman Tasik Semenyih (Lake Residence)
Semenyih, Selangor
Taman Tasik Semenyih (Lake Residence)
Semenyih, Selangor
Suadamai, Bandar Tun Hussein Onn
Cheras, Selangor
Suadamai, Bandar Tun Hussein Onn
Cheras, Selangor
Alam Sanjung Serviced Apartment
Shah Alam, Selangor
Suria Residence by Sunsuria
Bukit Jelutong, Selangor
Suria Residence by Sunsuria
Bukit Jelutong, Selangor