CSR enriches lives, families and communities…
Winning EXCELLENCE AGENCY for the second year running at the prestigious StarProperty.my Real Estate Awards (SREA) 2018 has been a godsend and also a blessing for Cornerstone Realty and its executive director Wong Yau Long. According to Wong, estate agents view the nation’s residential overhang as an opportunity to sell and expects the overhang situation in the country to remain unchanged till next year.
The Cornerstone Realty team prior to receiving their Excellence Agency award at SREA 2018
The following year could be a thriving and prosperous time for agents and negotiators. As more and more developers with overhang units are now aiming at clearing their property stockpile rather than launching new projects, this will undoubtedly create more room as well as opportunity to sell their products as well as properties. And Cornerstone Realty will continue to pave the way for property excellence as well as enriching the lives of all Malaysians!
Cornerstone Realty ~ Enriching Lives, Families and Communities…
A healthy property market is often dependent upon the policies of the nation’s central bank. Bank Negara Malaysia (BNM) has recently introduced a stricter BLR guideline in order to minimize the incidence of property overhang as well as to stamp out property speculation. Despite the stringent measures, demand for local properties remain robust and strong. Own-stay buyers also create a more stable and sustainable residential market in the long run as they are financially secure and ready to own a property. Capital appreciation remains optimistic as transaction volume has grown amidst the post-BNM cooling measures introduced during the previous administration.
Malaysians are generally adopting a ‘wait-and-see’ attitude towards better housing deals especially after the May 9th general elections (GE14). With the new Pakatan Harapan government coming into power, there is a lot of uncertainty regarding the future of Malaysian real estate particularly those associated with foreign buyers and overseas investors. Although the feel-good factor is relatively cool, a prevalent debt-ridden national economy continues to burden and aggravate the present stagnation in the residential property markets.
A high rejection rate of housing loans among applicants coupled with a glut or an oversupply of affordable homes have brought about the current property overhang situation. Today’s developers are also keen or more likely to provide high-tech solutions such as smart devices and digital home appliances to lure home buyers to purchase their properties. Smaller residential units are also the rage nowadays among middle-income groups due to the affordable price range.