Malaysian Property Summit 2012 to focus on property values, prices

Property transactions for the first half of 2011 grew 18.1 percent to 214,764 deals, while the value of transactions climbed 29.7 percent to RM64.75 billion from the same period last year.

Meanwhile, the number of transactions in the second half of this year has slowed, increasing only 10.2 percent, while transaction values climbed 12.6 percent from a year ago.

Global economic uncertainties are also a factor in terms of which industry watchers are cautious about.

“We also have to contend with the possible breaking of the property bubble in China and its concomitant effect on the rest of the world,” said Choy Yue Kwong, President of the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private sector, Malaysia (PEPS).

The summit will also see the possibility of a property bubble bursting and predict the price movement next year.

“The summit is designed to be a no-frills but information filled event where property experts and related parties present their report cards for the previous year and also more importantly, provide the outlook for the rest of the year,” said Choy.

The 5th Malaysian Property Summit 2012 will be held on 17 January at Sime Darby Convention Centre in Bukit Kiara, Kuala Lumpur.

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