wont drop so much, probably stagnant only
For new projects, developer may launch more affordable home.
For sub sales, i think no one willing to sell their property price below their purchase price or even below the market price if the owners affords to pay the installment. Unless the owner so desperate to find a buyer, then he may give some discount to let go his unit asap.
Affordable home launched maybe affordable at a smaller unit...that is to say that on a Price/Sf value...the price did not drop...lol...it's an affordable house in disguised..
Sub sales...as far as I understand...seller are often encourage to sell below market value to ensure buyer obtain a better loan margin...in sub sales it's more of a willing buyer, willing seller...hence price are negotiable
However if it were to take the laid back approach waiting for the price to drop in 2017...IMHO-nope~
In the past 50 years, prices in property never take a dip. It's always 'soft' for a period of time and then rises again. Again, I have heard of prices of property taking a dip since 10 years ago but it never does. Land are scares, population is increasing and raw materials are expensive so I am not really sure how it is going to dip.
No comment for other location, but as usual, buyers always hope for price drop and get the lowest price, however situation much more different in Penang island, price will still increase regardless of economic nationwide as many buyers from oversea come invest, live or retired here... therefore a single storey house in Balik Pulau were lesser than RM200k and now more than RM400K, within 10years.
Property sales price or rental will typically drop if owners are not united and set a benchmark for the price... If all property owner try lower prices just to get ahead in the game, then the tenants/buyer will win.
There are always tenants/buyer on the lookout for suitable property...
No matter which type property. When the PRICE IS RIGHT, there is always a willing party to buy/rent.