There had been a lot of talks by property developers in Malaysia, stating that the property market will still have positive growth in 2011. The developers tried to dispel the possibility of a bubble burst, and property launches are attracting investors who purchase the houses with the hope of selling them after a while. There seems to be a lot of optimism in the Malaysian market.
Is it going to be still lucrative? Some properties had boast of great sales, but there are still many lots left unsold despite great offers. What is really happening here? Are those merely advertising hypes to get people rush for a property that is barely sold?
Could it be that the real home buyers are not really able to afford the homes especially if it is a first time home ownership? Perhaps all those who purchase the new homes are buying them purely as an investment, and this group of people have grown lesser. The speculations about these decisions can go on and on, but it is still true that many investors are holding their reigns seeing the economic unrest around the world. The ultimate wait is for property prices to drop!
Across Europe, experts do not think that the year 2011 is a year to see recovery in real estate. The list of debts keep increasing in Europe and with the stress from the recent Egyptian mess sure makes things difficult. A recent report released by Dow Jones revealed that the Europeans are accepting the weak condition instead of staying too optimistic with false hopes especially with the economic weakness in countries such as Italy, Portugal and Spain. The report was done by PricewaterhouseCoopers and the Urban Land Institute based on interviews with 600 real-estate professionals.
Meanwhile, The Telegraph warned that property prices will fall in 2011, with excessive supply of properties, unemployment and continued squeeze on household budgets. For a while, the Europeans had been rather optimistic and believed strongly that the economy is on the road to recovery even last year, but reality sinks in. In fact, by the end of 2010, Japan too, had accepted the reality about the economy instead of being too positive when they were hit hard with what has now become a deflation in their own country that requires some serious attention.
So, what is your take on property for year 2011?
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