Property prices to keep
rising
PETALING JAYA: High property
prices are set to “keep increasing” in certain areas with good fundamentals,
said the Association of Valuers, Property Managers, Estate Agents and Property
Consultants (AVPEP) president Lim Lian Hong.
“In certain areas, property
prices will keep increasing. The property market is backed by the country's
economic fundamentals.
“It is better not to try to
guess which one will go up and which one will come down. This is because the
property market is not (volatile) like the stock market,” Lim said.
He said the prices were also
determined by other fundamentals such as population growth, access to highways,
and also types of design and finishes that a particular property offered to
buyers.
Speaking at a briefing during
the Property Market Outlook For 2013 forum organised by AVPEP, Lim said other
important factors to include in evaluating a property was its surrounding area
such as other upcoming developments.
He also said credit had to be
given to certain developers for being able to market and sell their products so
well in spite of the high prices.
“They (the developers) have been able to develop properties so
well that sees values go up and this is good for everybody,” Lim added.
He said that another factor
which influenced property prices was the supply-demand factor.
“If you ask me (specifically)
in which areas the prices will go up or down, you will have to look at the
supply and demand (equilibrium),” he quipped.
AVPEP honorary secretary Foo Gee Jen said another factor was the
property's access to transportation facilities roads, rails or highways
Source : The
Star
Date : 23 Jan
2013
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