Property market to pick up in 2Q to 3Q on local housing demand

The property market will pick up in 2Q to 3Q2016 – after the festive seasons from the end of last year until the end of this month – as demand is still strong from genuine buyers in the secondary market, said principal of Synergy International Realtors Terry Wong (pictured, centre).

“With schools reopening in January and the Chinese New Year festivities just ending, many are now starting to gear up for work again, and when that happens, the market movement will be more rapid as well,” Wong told TheEdgeProperty.com.

According to Wong, property investment may have slowed due to buyers being more cautious with where they spend their money but the secondary market is still seeing many genuine first-time homebuyers looking for good deals.

Meanwhile, the rental market – especially in hot parts of Kuala Lumpur, where the expatriate market is concentrated – will see more leasing activity in June and July.

“The international schools start their semester in September so, that is when they will start coming in to look for properties for rent,” he added.

About seven agents from the 20-strong Synergy International Realtors turned up at The Edge Media Group’s head office here for a briefing on TheEdgeProperty.com’s free suite of analytical tools.

“We have gained so much knowledge from the briefing today and we are excited to try out the tools on the website which are free and user-friendly, such as the past transacted price of properties, free listings for agents and rental yields of different projects,” he said. - The Edge Property