More property launches expected in H2

The number of property launches expected in the second half of 2013 will be higher compared with the first half, trending towards smaller and affordable units according to Real Estate and Housing Developers’ Association of Malaysia’s (Rehda) property industry survey.

The survey showed that 63% of respondents have product launches in the coming months with 18,181 units in the pipeline, which is 11% higher than the first half of this year.

Rehda’s findings also found that smaller and affordable units are expected to be the trend of the future as landed property launches drop from 53% in the first half to 38%.

“There are more strata property in upcoming launches in the second half of 2013, with 15% increase in numbers compared with the first half, coming from Kuala Lumpur, Selangor, Penang and Johor,” Rehda president Datuk Seri Michael Yam said.

“This is because as property prices go up, developers have to shrink the unit sizes so that the absolute value is within the reach of first-time homeowners and young professionals,” he said. While two and three-storey terrace houses were the most popular property types launched in the first half, condominiums and apartments will take the lead in the coming period.

In the commercial segment, 48% of upcoming launches will be SoHo (small office home office), SoFo (small office flexible office) or SoVo (small office versatile office) units. - By The Star

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