PETALING JAYA (Oct 2): Sub-sales of property, particularly in Klang Valley, have dropped by 20%, revealed director of Vivahomes Realty, Alvin Foo, at a briefing by theedgeproperty.com yesterday.
He added that the outlook for the property market is expected to be grim for the next two years.
More than 180 agents and negotiators turned up at The Edge Media Group’s head office for the briefing. However, Foo noted a slight uptick in primary market sales.
“We are looking to expand our primary segment from to 20% to 40%, although 80% of our current sales are made up of the secondary market.
“Our primary projects have had encouraging sales. In fact, people are more accepting of new concepts such as soho, sovo (small office, versatile office) and studio units. High-rise apartments are definitely the top choice of buyers in the primary market, while landed properties are still popular in the secondary market,” he said.
He added that realtors would benefit from training programmes in the present climate, and platforms such as theedgeproperty.com would be “a good learning resource for our agents”. Vivahomes Realty has a staff of about 600.
Some of the features of theedgeproperty.com include advanced analytics by area and property type, advanced analytics based on projects (sales transactions, asking rents, surrounding projects), a hotspot tracker, property news and free property listings.
“The tools and features of theedgeproperty.com are particularly helpful for agents focusing on sub-sales. It will definitely enhance our market knowledge,” said Viva- homes agent Vincent Wee.
Project leader Kenneth Goh said theedgeproperty.com is useful for learning about market performance, transaction trends and property hot spots.
On the long-term outlook for the Malaysian property market, Vivahomes agents expressed optimism.
“The market may turn positive in the coming year. Despite current challenges, our property prices are still more affordable compared with those in neighbouring Asean countries,” said assistant manager of Vivahomes Realty, Gerrard Goh.
News source: (The Edge/Hannah Rafee)