Nuggets Of Knowledge
This was advice shared by Perdana ParkCity Sdn Bhd former CEO Lee Liam Chye. Perdana ParkCity is the developer of the award-winning township near Kepong, Kuala Lumpur.
1.Especially in townships like Desa ParkCity, the situation where one can ‘buy low sell high’ is over. Buyers should aim for buy high and sell higher!
2.Lee said housing prices will continue to rise in tandem with the rise in construction costs and land scarcity, especially in city centres.
3.Prices will always go up, there will be consolidation during a slowdown but prices will certainly rise higher during the next boom period.
4.The property market usually begins to flourish at the beginning of a new decade and will last about three to seven years.
5.For instance, the years of 1960, 1970, 1980, 1990, 2000 and 2010 saw the beginnings of property boom times. Looking back at this pattern, the next boom may be in 2020.
6.If I’m a property owner, now is not a good time to sell. Hold if you can and wait for the next boom.
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