Housing market prices expected to increase 10-20% in next 6 months!?
I was surprised to read about it from an article in theedgeproperty.com written by E. Jacqui Chan. The survey was conducted by The Real Estate and Housing Developers’ Association of Malaysia (REHDA).
At first, I thought our new properties in the market are over supplied until I saw this quote as below: –
“Based on these figures, we are looking at about 80,000 units of new houses in 2010. However, our basic housing demand annually shows that an average of about 150,000 to 180,000 units are needed. We also have to take into account the continuous migration into the cities and upgraders. We may face a shortage in the market soon,” said REHDA President, Datuk Michael Yam. Source: TheEdgeProperty.com
House price increase tremendously recently. Many potential house buyers are talking and worrying about the property market burst. Some say it is a speculative bubble, the sky-high house prices have been over speculated. Some say it was due to inflation, population growth, and increasing material costs. Whatever.
However, the housing demand analysis revealed by Datuk Michael Yam as above is good for us to have clearer picture about the supply and demand of housing market in Malaysia.