In Seremban, the general outlook of the market appeared to be on a downward trend. Transaction activity has been in decline as the general take up rates in developers’ projects have shown sign of softening. This is attributed to the lesser affordable housing products were introduced, coupled with increasing loan rejections. The secondary market also taken a dip in transaction volumes and prices.
Although some investors are trying to liquidate their assets to cut down their liabilities, sales are still less as affordability and purchasing power is getting low with the inability of buyers to fork out the 10% down payment plus all the necessary processing and legal charges. However, with Bumiputera quota for certain areas to be revised back to 30%, it will serve as a tonic for improved transacted prices and take up rates.
In Malacca, landed residential stayed as preferred choice amongst the locals. The tightening of lending policy and softening market conditions have observed the upcoming new developments trended towards affordable price range, reflected by more affordable projects being approved by the local authority.
No sizeable scheme has been launched in the year under review. However, it was noted that Johor Land Berhad will be constructing 2,780 units of mixed residential cum commercial units identified as Taman Gading Mutiara and located along Jalan Kluang, approximately 8 kilometres from Batu Pahat town centre. The proposed scheme is expected to be completed in 2019.