House prices will not come down — but sizes will

PETALING JAYA (Oct 5): Housing prices will definitely not go down as elements of property development such as land cost and development charges keep increasing, said a group of panellists.

“Property prices will definitely go up. We have asked various parties to help bring prices down. So, this is one of the challenges we are facing,” said Real Estate Housing Developers’ Association (Rehda) president and Glomac Bhd CEO Datuk Seri FD Iskandar at a panel discussion entitled “CEO roundtable: Overcoming key issues and challenges in housing and property development.

* Govt should pick “low-hanging fruits” to make big changes in property market

* More public-private sector partnerships vital to drive IBS usage

* Bigger affordable housing allocation for Budget 2018

* Extension for project delivery possible, says housing minister

* Are you launching the right products?

* Forest City won’t suffer from low occupancies in long term

* What do youths want in their homes?

* Housing bubble likely if two key issues are not addressed

* Property rental market needs regulation, says Finance Minister II

* Housing glut in Iskandar Malaysia no big issue in the long term

* Instead of building affordable homes, make homes affordable for all

* A dozen sustainable ideas for developers

* E-commerce will not replace shopping malls in this lifetime

He added that new homes are becoming smaller because property developers are looking at absolute selling prices.

While affordable homes are currently a trend, he pointed out that a city cannot progress with just affordable homes, as people who move up the socioeconomic ladder will yearn for a property to match their upgraded lifestyles.

“So, we need a wide range of product offerings for homebuyers,” he added.

On the outlook of the market, FD Iskandar said: “Is the worst over? I would like to say yes.

“However, as World Bank said, although the projection for our GDP growth increased, there is still a bit of risk in our currency and the global economy.”

Moderated by Savills (M) Sdn Bhd executive chairman Datuk Christopher Boyd, the panel also includes LBS Bina Group Bhd group managing director Tan Sri Lim Hock San, MKH Bhd group managing director Tan Sri Eddy Chen and Lendlease Projects Sdn Bhd director and country head Dinesh K Nambiar.

The panel discussion was part of the 20th National Housing & Property Summit 2017 organised by Asian Strategy & Leadership Institute yesterday and today (Oct 6) at Sunway Resort Hotel & Spa in Bandar Sunway.

EdgeProp.my is the official media partner for the event themed “The State of the Housing & Property Industry — Where do we go from here?”