On Malaysia & world economy; Property outlook Malaysia 2015
- Currency: RM3.6490 to USD1 (strongest since Mar 6)
- Equities: KLCI best performer in Asian markets up 1% (mainly GENTING & TENAGA – new Track 3B project expected)
- Plantation: sector worsens with reserves still at high levels & Indonesia having record palm oil reserves
- 1MDB: still garnering attention. Some quarters including BNM downplaying impact.
- Penang: 1st woman mayor Datuk Patahiyah Ismail after (re)gaining city status
- US: Housing market declines; Feds to only raise rates after labor market further improves & medium-term inflation reaches above 2%
- Germany: Improved consumer sentiments come after Euro Central Bank quantitative easing announcement
- Japan: Bank of Japan (BoJ) maintain monetary policy & expect moderate recovery
- India: Wholesale Prices Index (WPI) decline due to fuel & power inflation
- Indonesia: 5th consecutive month exports decline (mainly non-oil/gas exports)
- Singapore: Non-oil domestic exports significant drop in Feb by -9.7%
- Slow for properties above 500k range (especially luxury developments above 1m)
- But value buys available & being snapped up quite fast. If you have property you must dispose off, best to do it fast.
- More motivated sellers as some exiting market & DIBS properties reaching completion.
- Higher end properties may be better adopt hold (rent out/stay) & future flipping (selling) strategy
- Prices expect stagnant due to forces affecting both ways (GST, developers, developments/govt connectivity plans, motivated sellers)
- Investment general suggestions: Value buys. Good rental properties.
- Informal interview with *ahem* experts:
- Decorating magic spells rental/selling success!