THE prolonged movement control order (MCO) to curb the rising number of Covid-19 cases has no doubt contributed to a sluggish property market throughout Malaysia.
Some investors are adopting a ‘wait-and-see’ approach due to various uncertainties while others see this as an opportune time to dive in.
As construction works in many projects are halted during the MCO and sales badly affected since property viewing of completed units cannot be carried out, property agents are definitely at the receiving end.
Aster Ng, who is one of the IQI Group northern region leaders with a pool of real estate negotiators under her, said now is the buyers’ market.
Although the situation currently does not look very bright, she said there are still transactions being carried out particularly in Penang.
“I believe Penang is a good choice for investors compared to other states,” Ng told Buletin Mutiara in an interview.
“We still have buyers looking for properties, especially below RM500,000 and not more than RM800,000. Anything higher than RM800,000 is difficult as jobs are not secure.
“Landed properties are still okay in Penang because the state does not have much land. Transaction may be a bit slow, though,” she said.
Asked what advice she would offer to relatively new property agents who are struggling in the business, Ng said the most important thing is having the right mindset.
“Take problems as lessons, find a way to overcome them and improve. I love to solve problems and only then can I grow,” said Ng, who has 19 years of experience in the property market.
She described two new projects, the 22 Macalister in George Town and the VOS Lifestyle Suite in Bukit Dumbar, which her company has been given some exclusive sales rights by the developers, as exciting investment opportunities.
She welcomes those interested to know more details about the 22 Macalister (by Exsim Group) and VOS (by Inma Development Sdn Bhd, under Stallion Group of Companies) projects and other property related matters to contact her at 012-494 1168.
Rickie Goh Guan Zuo, a retail planning and leasing consultant with Zeon Properties, said although there are a lot of restrictions during this pandemic period, a lot of projects are going to take off in Penang.
“We are in preparation stage to welcome and assist those developers, buyers, tenants, landlords and investors as we know that there will definitely be a bounce back after this pandemic. We hope to be ready for that.
“During this lockdown, we do not limit ourselves to just preparing for Penang properties but also Kuala Lumpur and Singapore properties.
“Although they may be difficulties in closing sales, our sales are determined annually and so, basically those experienced agents are not too worried about the current situation,” Goh said.
He said as viewing of apartments could not be done during the lockdown, it has affected the rice bowl of the agents.
Earlier through his various meetings with clients and developers, Goh said he became a close contact of confirmed Covid-19 victims and was fortunate to be tested negative after undergoing PCR test once and rapid tests twice.
Goh sees a positive property market outlook in 2022 and 2023. For enquiries on the property investments, he can be reached at 017-459 3012.
Another experienced property agent leader, who wished to be known as Lee, said he hoped that the Federal Government would also prioritise real estate agents for vaccination and allow them to cross districts in the course of their work.
“Property agents play an important role to drive the property market and economy. We are also providing an essential service.
“To me, health is a priority to my agents. I have got my jabs and it is crucial, especially for those in the 30-50 age group, to get vaccinated as well.
“All agents are suffering as they cannot conduct viewing for their clients. We can have Zoom meetings. But buying a property is different from buying an item. Buyers prefer to wait until they see the physical building before making a careful decision,” he said.
Lee said he saw no reason why agents could not conduct property viewing for their clients when car wash businesses, which involve a number of foreigners, could operate during this Phase 2 of the National Recovery Plan.
He said compliance with the standard operating procedures (SOPs) is not difficult considering house viewing usually involves not more than five persons, like the husband and wife (clients), the agent, and possibly the owner.
Lee added that even if the agents have been inoculated, it would be futile if they and their clients could only travel within a 10km radius.
Hence, he said the Ministry of International Trade and Industry (Miti) needs to give them the green light to facilitate travel movements.
Story by K.H. Ong
Pix courtesy of interviewees