We’ve rallied up our favourite bunch of property agents once more and this time, they’re sharing trends they’ve observed in 2019 and also were kind enough to provide some pointers for those looking to make a property purchase as well.
TRENDS OBSERVED IN 2019
Joseph Chan: “What I have noticed in 2019 are disruptive technologies like mobile apps allowing tenants and landlords dealing without the need of an agent’s services. As an agent, we will need to keep learning and improving in order to bring better value-added services to our client. Dealing with property is one of the most complex and biggest commitments, and an agent’s role plays a massive part of their client’s journey before and after a property is secured. I still believe that despite the existence disruptive technology, clients would still need to hire agents because we are able to provide consultation based on understanding the client’s feelings and requirements and helping them to make the best choice accordingly.”
Chris See: “It has become much easier for people to own a home thanks to the government’s Home Ownership Campaign in 2019. For more on last year’s HOC, you can visit http://rehda.com/hoc2019.”
Wan Sean Shariff: “More people have opened up to the idea of renting versus buying!
Money Ong: “2019 seemed to many like the perfect time to invest in a property.”
Mikasa Chong: “Residential properties below RM550 per square feet has been selling good so far. Many developers participated in the Home Ownership Campaign (HOC), which was extended till 31th December 2019 and that’s no surprise because it presented a good opportunity for new home buyers. The overall residential market picked up slightly in comparison to 2019, however the mid to high-end residential segment still experienced a slow take-up.
On the tenant-led office market front, the growing co-working/shared services segment provided a great window of opportunity. Office locations in Selangor, performed better compare to KL city offices with both rental and occupancy levels.
More developers are exploring opportunities to diversify their conventional residential developments by incorporating newer trends – including rental purpose accommodation, co-living, senior living, and etc.”
ADVICE FOR BUYERS
Joseph Chan: “My advice to buyers is to always engage with a local agent or agent specialized in a particular area because those agents with focus will give a better consultation and will have many listings to select from. A specialized agent would also be able to provide better after sales service because they would be always be in the area coverage and knows the ins and outs of the area. As for me, I have always focused in the Shah Alam market, and it helps me to assist my clients to get better deals because I understand the market and product well.”
Wan Sean Shariff: “Never rush. Take your time & do a ton of research on the property you’re about to buy.”
Mikasa Chong: “When the market is low, it’s always the best opportunity to hunt below market priced property.
Buyers must understand the purpose of buying, it’s either for your own stay or for investment. Buyers must understand nothing is perfect, there is no perfect property that are perfectly suited for both your own stay and investment. Understand your own financials, check with your banker or your realtor on how much budget you can afford to pay per month in order to select the property. Choose the property depending on your current financial health and don’t over commit. Real estate can be a very lucrative investment, but it requires a huge time commitment and patience.
Leave the job to the professionals – real estate negotiators are always giving their best advise based on their experience and knowledge.”
A huge thanks goes out to all our partners and agents for being a part of the Mudah.my family! Here’s to a great 2020 ahead for all of us. Oh, and to those of you who would also like to contribute ideas, advice or share your experience as an agent or even as a Mudah user, we warmly welcome you to get in touch with us!