Extremely slow with very limited transaction
I see a lot of auction properties are people trying to get the best price for their properties. If they can't sell it on the open market, might as well try auction to get the best price. And i think if the banks are hard pressed for margins and increases the BLR, foreclosures auctions will be more prevalent in 2016, and that will set the new benchmark for properties.
@Aack2001 The auction here in Malaysia referring to proclamation of sales of property by the bank which the owner defaulted payment of their loan.
Unlike the property in NZ and AUS whereby they could have an open house and have all the interested parties to bid for the highest price to sell the property off (never encounter such incident in Malaysia before, have any other agents hosted such event on a normal sub-sale property here before?)
I had seen that and done that in NZ but not in Malaysia.
High End property at the best location in front of KLCC is seriously affected... so does location/poshiness of an area counts? It just means that location or high end doesn't really bring value as long as, its affordable to the general population.
The only good investment property is when the yield is higher then the (interest rates + expenses) for long period. It is shown that value cannot be retained even with good location. So current property market, is seriously screwed by speculator, it just like stock market, when no body buys.. you are in a bearish market. If the stock doesnt give good dividen... sell..
Diversify your portfolio in Australia Property.
Why in AUSTRALIA?!
-Strong rental market
-ONLY 10% Down-payment to lawyer trust account
-POSITIVE cash flow (rental can cover loan repayment)
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-15 years interest only loan
Consultation > Purchase > Contract Administration > Mortgage Application > Settlement > Property Management > Migration
Contact Ms Lim Shu Xian 019 3388 133 for free advice. :)