This year’s second half will likely see more property launches compared to 1H2013, with affordable and smaller units as the new trend, according to the latest survey of Real Estate and Housing Developers’ Association of Malaysia (Rehda).
Notably, 63 percent of the respondents indicated that they will have product launches over the next few months, with 18,181 units in the pipeline, or up 11 percent from the first half.
The survey also showed that smaller and affordable units will likely emerge as the new trend given the decline in landed property launches from 53 percent in 1H2013 to 38 percent.
“There are more strata property in upcoming launches in the second half of 2013, with 15 percent increase in numbers compared with the first half, coming from Kuala Lumpur, Selangor, Penang and Johor,” commented Rehda president Datuk Seri Michael Yam.
“This is because as property prices go up, developers have to shrink the unit sizes so that the absolute value is within the reach of first-time homeowners and young professionals,” he explained.
Although two- and three-storey terrace houses were the most sough after property types in 1H, apartments and condominiums are expected to take the lead in the coming months.
Over at the commercial segment, SoHo (small office home office), SoVo (small office versatile office) and SoFo (small office flexible office) units will account for 48 percent of the upcoming launches.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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