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aws(账号)(www.2km.me)_Sales seen to surge in Q4

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PETALING JAYA: Property developers are set to record robust sales in the final quarter of 2021, backed by the pent-up demand post-lockdown and house buyers capitalising on the remaining months of the nationwide Home Ownership Campaign (HOC).

Savills Malaysia Sdn Bhd group managing director Datuk Paul Khong said he expects developers to continue to leverage on the HOC to drive sales.

“Moving into the fourth quarter of 2021 and as the year closes, we expect to see a pick-up in transactions and last-minute deals before the HOC ends on Dec 31,” he told StarBiz.A property analyst concurred, believing that many potential home buyers will want to make the best of “what little time is left”.

“In Budget 2022 last month, expectations were high that the HOC would be extended into next year.As the year closes, we expect to see a pick-up in transactions and last-minute deals before the HOC ends on Dec 31. - Datuk Paul Khong

“If that had happened, many home buyers would have held back purchases until next year, because of the added time.

“But there was no extension announced. With around a month-and-a-half of the year left, we expect home buyers to make the best of what little time is left to enjoy the final discount packages from developers and incentives under the HOC.”

UOB Kay Hian in a recent report said it expects strong property sales in the final quarter of 2021.

“While developers’ property sales in the third quarter of 2021 could be weak amid the lockdown, we expect it to be more resilient this time compared with the lockdown during the second quarter of 2020, thanks to ongoing digitalisation efforts.

“This was evident with a higher mortgage application and approval value in the third quarter of 2021 at RM67.5bil and RM24bil, respectively, following a good uptick in September 2021.”

Meanwhile, KGV International Property Consultants (M) Sdn Bhd director Samuel Tan (pic below) said the property market in Johor would depend vastly on the opening of international borders. “This will spur organic growth, which will impact the property market favourably,” he said.KGV International Samuel Tan

Additionally, UOB Kay Hian said property sales in the fourth quarter of 2021 are expected to rebound strongly with the economic reopening-induced pent-up demand.

“We expect some developers like S P Setia Bhd, Eco World Development Group Bhd and Sunway Bhd

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