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PETALING JAYA (Jan 27): Investors from Singapore and Hong Kong, who largely drive sales in Kuala Lumpur’s city centre, are waiting for the ringgit to depreciate further before making their purchases, said City Crest Realtors principal Darren Khor (pictured, left).
He also noted that the market in 1H2016 is expected to be muted on poor investor sentiment.
“The property market may stabilise in 2H2016 once the ringgit shows no sign of further depreciation and after careful consideration and time taken by investors to research on which properties would give them good capital appreciation and rental yield,” he said before a briefing by TheEdgeProperty.com on the one-stop property portal’s array of tools.
Currently, City Crest Realtors has 22 agents and negotiators headed by Khor and half of them turned up at The Edge Media Group’s head office for the briefing.
Khor believes properties in the primary market will continue to sell well as long as they fulfil three criteria – the availability of public transport, shopping malls and offices.
“When there is connectivity and convenience, investors will be more than happy to invest in these projects,” he said.
Meanwhile, Khor added that agents and negotiators will benefit from TheEdgeProperty.com’s website because of the analytics and data present in the website.
“As a principal, I would ask my realtors to visit TheEdgeProperty.com to get the latest news and updates about the property market from the informative website. It is also a good tool for them to get the latest data such as the average transacted price of a property and the current asking price which they can easily pick up from the website,” he said.
Some of the features of TheEdgeProperty.com include advanced analytics by area and property type, advanced analytics based on projects (sale transactions, asking rents, surrounding projects), a hotspot tracker, property news and free property listings.
“I would advise my realtors to play around with the tools present on the website and benefit from the added knowledge they can gain,” he added.
Khor added there may be higher loan rejection rates this year but the agency will compensate by working harder during this period.
“We will continue to call and send out messages to our clients so that if some of our buyers are not granted the loans and they pull out, we have other buyers who would be waiting to buy these properties,” he said.
