Opportunities and challenges ahead in Real Estate Market
Kuala Lumpur, 22nd January 2011 – In today's “The Best, The Worst, All in 2011” property investment seminar, organized by SwhengTee International Real Estate Investors Club (SwhengTee REI Club) at the Grand Dorsett Subang Hotel, Subang, Gavin Tee, Founding President of SwhengTee REI Club forecasted that Malaysia's condo prices will hit RM5,000 per square foot within the next 5 years. Ho Chin Soon, Director of Ho Chin Soon Research, was the special guest speaker for the occasion.
“We are experiencing exciting times in the real estate market. The greatest opportunities in property investment will take place in Malaysia this year,” said Gavin Tee, Malaysia's well-known real estate investment consultant. His other forecasts include the real estate market in Kuala Lumpur would have matured and hit the highest point by 2020, tourism-related properties in Malaysia will become the most expensive by 2018, and Iskandar Malaysia will have the second highest property values after Kuala Lumpur by 2016.
With condo prices reaching RM2,900 per sq ft and land prices hitting RM7,209 per sq ft in the Golden Triangle, combined with several development and infrastructure works taking place within and the surrounding areas, as well as average prices of city apartments being the second lowest in the region at almost 1/8th of Singapore's property prices, luxurious condominiums are expected to escalate within the next 5 years.
Gavin Tee covered topics such as how to “Tap The Greatest Investment Opportunities In The Ever-Changing Property Market”, “Advanced Real Estate Investment Strategies” and “Identifying The Hotspots – Where Do I Put My Money Down?”
Until September 2010, Iskandar Malaysia had attracted RM64.38billion. With several major infrastructure works, projects and investments taking place, as well as the expected Singapore-Kuala Lumpur High-Speed Rail train going through Iskandar Malaysia, its property values are expected to rise to greater heights.
Kinabalu Park, Melaka and George Town are on UNESCO's World Heritage List, making them international tourism destinations. As Malaysia increases its attractiveness as a tourist destination, the economic benefits from a thriving tourism industry would contribute to the value of tourism-related properties.
Among the strategies Gavin shared with included investing in the secondary market, buying prime properties en-bloc as a group, leveraging and managing financial resources, disposing the worst properties and buying the best ones.
His identified hotspots for the Klang Valley includes Bukit Bintang/Jalan Stoner, Maluri/Cochrane, Sentul, KLCC Luxury Apartments, U-thant, Sungai Buloh, Ulu Klang/Melawati, and Bukit Jalil/Equine. For the rest of Malaysia, he recommended Kota Kinabalu, Penang, Malacca, Iskandar Johor, Cyberjaya, Kuantan, Ipoh, Muar and Klang.