Miichael Yeoh

Tag: property investment

  • WEEKLY PROPERTY ROUNDUP

    WEEKLY PROPERTY ROUNDUP

    10–16 October 2026

    LOOK BEYOND THE PRICE

    Five stories. Three Malaysian developments. Two international markets. One objective: helping buyers and investors make better-informed property decisions.

    🇲🇾 MALAYSIA PROPERTY MARKET

    STORY 1 — Why Are Malaysian Property Developers Becoming More Cautious?

    What Happened?

    A property industry survey reported by The Edge Malaysia on 15 October revealed that 63% of surveyed developers had no plans to launch residential projects in the second half of 2026.

    The survey by the Real Estate and Housing Developers’ Association Malaysia (REHDA) covered 181 respondents in Peninsular Malaysia.

    Key findings included:

    • 114 of 181 respondents had no plans for residential launches in the second half of 2026.
    • The remaining respondents planned to launch 18,696 units.
    • 77% of respondents reported financing difficulties during the first half of 2026.
    • 59% of respondents with relevant data reported unsold completed residential units as at 30 June 2026.
    • Among respondents who reported unsold completed units, 32% said some of their stock had remained unsold for more than three years.

    Developers cited market conditions, approval delays and existing unsold inventory as reasons for their cautious approach. The Edge Malaysia

    Source: The Edge Malaysia — REHDA property industry survey, 15 October 2026

    Why It Matters

    This is an important signal for Malaysia’s property market.

    A high number of new launches does not automatically mean a healthy market. What matters is whether homes are priced appropriately, buyers can obtain financing and completed units find genuine occupants.

    The financing figures are particularly noteworthy. Demand for housing may exist, but prospective buyers still need to qualify for loans and manage their financial commitments.

    Developers must also balance construction costs against what their target customers can realistically afford.

    Miichael’s Review

    I see this as a reminder that property development must follow real demand, not simply market excitement.

    When developers become more cautious, buyers should look beyond promotional campaigns and ask some practical questions:

    1. How many comparable properties are already available?
    2. Are existing developments attracting genuine buyers?
    3. Are asking prices supported by recent transactions?
    4. Can the intended buyers realistically obtain financing?
    5. Is the development designed for actual occupants or mainly for investors hoping to resell?

    The survey also suggests that different property categories are performing differently. Buyers should therefore avoid treating the entire Malaysian market as one uniform market.

    My view: A more selective market can reward careful research. Buyers need to distinguish between a property that is attractively marketed and one that is genuinely well positioned.

    STORY 2 — Malaysia Reports 1,726 Revived Housing Projects: What Does This Mean for Buyers?

    What Happened?

    On 14 October, EdgeProp Malaysia reported on the Housing and Local Government Ministry’s update that 1,726 sick or abandoned private housing projects had been revived since 2023.

    The projects involved approximately:

    • 199,643 housing units
    • RM158 billion in gross development value
    • 1,542 sick projects completed with Certificates of Completion and Compliance
    • 147 projects restored to smooth status
    • 37 abandoned projects resolved through physical completion or arrangements benefiting buyers

    The ministry also reported that, as at 31 August 2026, Kuala Lumpur still had seven projects classified as abandoned and another 12 classified as sick.

    The government has set a target of eliminating sick and abandoned housing projects by 2030. EdgeProp

    Source: EdgeProp Malaysia — Housing project rehabilitation update, 14 October 2026

    Why It Matters

    A stalled housing project can create serious financial and emotional difficulties for buyers.

    They may have paid deposits and progressive payments, committed to housing loans and continued paying rent while waiting for their homes.

    The reported rehabilitation figures are encouraging, but one distinction matters: a project being revived does not necessarily mean every unit has been completed and handed over.

    The different outcomes must be examined individually.

    For prospective buyers, this is also a reminder to assess the delivery record of a developer and the actual status of a project before committing.

    Miichael’s Review

    I welcome efforts to protect homebuyers and resolve problematic developments.

    However, I would assess a project’s progress using evidence rather than announcements alone.

    Before buying into an ongoing development, I would want to understand:

    • The developer’s financial and delivery track record.
    • The project’s construction progress.
    • Whether the required approvals and legal arrangements are in place.
    • Whether there are known disputes or rehabilitation issues.
    • The expected completion date and the evidence supporting it.

    For buyers already affected by a stalled project, the available rehabilitation route and legal position are particularly important.

    My view: The real measure of success is not simply how many projects have been declared revived. It is how many affected buyers ultimately receive the homes or appropriate resolutions they were promised.

    STORY 3 — IOI Properties Advances Its Proposed RM7.66 Billion REIT Listing

    What Happened?

    IOI Properties Group Berhad advanced its proposed Malaysian real estate investment trust (REIT) listing after signing an underwriting agreement with six financial institutions.

    According to EdgeProp Malaysia on 12 October:

    • The proposed REIT has nine initial assets.
    • The portfolio was valued at approximately RM7.66 billion as at 31 May 2026.
    • The proposed offering could involve up to 2.2 billion units.
    • The underwriting agreement covers 165 million offer units, subject to the offering’s allocation provisions.
    • The prospectus was targeted for the fourth quarter of 2026, with listing targeted by year-end.

    The initial portfolio includes IOI City Mall, six hotels and two office properties.

    These are proposed listing arrangements; the announcement did not mean the IPO had already been completed. EdgeProp

    Source: EdgeProp Malaysia — IOI Properties advances proposed REIT IPO, 12 October 2026

    Why It Matters

    A REIT provides a way for investors to gain exposure to income-generating property through a listed investment vehicle rather than purchasing an entire property themselves.

    For the property sector, a listing can provide another route for capital management and potentially broaden investor participation.

    However, a large property portfolio does not automatically make a REIT an attractive investment.

    Investors still need to examine rental income, occupancy, financing costs, debt levels, asset valuations and the proposed distribution policy.

    Miichael’s Review

    This is worth watching because it connects property ownership with capital markets.

    For individual investors, a REIT may offer a different way to participate in commercial property, hotels and retail assets without directly managing a building.

    But the decision should be based on the investment’s fundamentals.

    I would look carefully at:

    1. The quality and location of the underlying assets.
    2. The sustainability of rental income.
    3. Financing costs and gearing.
    4. The proposed distribution yield and how it is calculated.
    5. Whether the offering valuation is reasonable relative to comparable investments.

    My view: The important question is not merely how much the portfolio is worth. It is whether its assets can generate sustainable income at a valuation that makes sense for investors.

    🌏 INTERNATIONAL PROPERTY WATCH

    🇦🇪 STORY 4 — Dubai Buyers Shift Towards Completed Homes as the Market Becomes More Selective

    What Happened?

    A third-quarter 2026 residential market report from betterhomes, reported by Khaleej Times on 15 October, showed a shift towards completed homes in Dubai.

    Key findings included:

    • Sales of ready residential properties rose 16% quarter-on-quarter.
    • Secondary-market transactions reached 10,055, with a total value of Dh27.1 billion.
    • Secondary-market transactions accounted for 29% of total residential sales, up from 24% in the second quarter.
    • Overall residential sales totalled 34,615 transactions during the quarter, broadly unchanged from the previous quarter.
    • Median apartment prices declined 2.4% between June and September, while villa and townhouse prices fell 2.3%.

    Despite the quarterly price declines, prices remained higher than a year earlier. Rental enquiries also rose sharply, although median rents eased in several market segments. Khaleej Times

    Source: Khaleej Times — Dubai ready-home sales jump 16%, 15 October 2026

    Why It Matters

    The figures suggest that buyers are becoming more selective about the type of property they purchase.

    Completed homes offer advantages that off-plan properties cannot immediately provide: buyers can inspect the actual unit, assess the surrounding community and potentially receive rental income sooner.

    However, the reported shift does not mean off-plan properties have become universally unattractive. Different buyers have different financial circumstances, objectives and risk tolerances.

    The decline in quarterly prices also highlights the importance of comparing actual transactions rather than relying exclusively on advertised prices.

    Miichael’s Review

    This is an interesting development for property investors.

    A completed property may provide greater visibility into its condition, rental demand and surrounding environment. An off-plan property may offer different advantages, but it also requires buyers to assess delivery risk and future market conditions.

    I would compare both options using the same criteria:

    • Total acquisition cost.
    • Expected rental income.
    • Maintenance and other holding expenses.
    • Financing commitments.
    • Comparable transaction prices.
    • Exit options if market conditions change.

    My view: A completed property is not automatically a better investment, just as an off-plan property is not automatically a better bargain. The right choice depends on the numbers, the risks and the buyer’s objectives.

    🇨🇦 STORY 5 — Canadian Home Sales Fall Again as Mortgage Rates Weigh on Buyers

    What Happened?

    On 16 October, Reuters reported that Canadian home sales declined again in September as higher mortgage rates and expectations of a possible interest-rate increase weighed on market activity.

    According to the Canadian Real Estate Association (CREA):

    • National home sales fell 2.3% month-on-month in September, following a 0.7% decline in August.
    • Sales were down 7.7% year-on-year on an unadjusted basis.
    • The Home Price Index declined 0.4% month-on-month and 3.4% year-on-year.
    • New property listings fell 1.8% from August.
    • The seasonally adjusted sales-to-new-listings ratio slipped to 48.8%, below its long-term average of 54.7%.

    At the time of the report, financial markets were pricing in the possibility of a 25-basis-point Bank of Canada rate increase in December. This was a market expectation, not a confirmed policy decision. Reuters

    Source: Reuters — Canadian home sales fall in September as mortgage rates increase, 16 October 2026

    Why It Matters

    The Canadian market demonstrates how financing conditions can affect property transactions.

    Even when prospective buyers want to purchase homes, higher mortgage costs can reduce borrowing capacity or make buyers more cautious about committing.

    A slower market may give some buyers more time to negotiate. However, it does not automatically mean that every property is attractively priced.

    Local conditions also matter: national figures can conceal significant differences between cities, neighbourhoods and property types.

    Miichael’s Review

    For me, the main lesson is the relationship between financing and affordability.

    When interest rates rise, a buyer may qualify for a smaller loan or face a higher monthly repayment. That can change which properties are financially sensible.

    Before committing, I would ask:

    1. Can I afford the repayments if borrowing costs increase?
    2. Does the property remain affordable after taxes, insurance and maintenance?
    3. Is the asking price supported by recent comparable transactions?
    4. Can I sustain ownership if resale takes longer than expected?
    5. Am I buying because the property suits my needs, or because I expect prices to rise?

    My view: A property purchase should be financially sustainable even when market conditions become less favourable. Buyers who understand their financing limits are better placed to make measured decisions.

    WORTH WATCHING

    Here are five developments I would monitor over the coming weeks.

    AreaWhat to watchWhy it matters
    MalaysiaDeveloper launch plans and sales performanceShows whether supply is responding to genuine demand.
    MalaysiaRehabilitation of sick and abandoned housing projectsBuyers need evidence of actual progress and resolution.
    MalaysiaIOI Properties’ proposed REIT prospectusProvides details for evaluating the portfolio, pricing and distribution policy.
    UAECompleted-home prices, rents and transaction activityHelps investors assess whether market conditions support their objectives.
    CanadaMortgage rates, sales activity and home-price trendsProvides an indication of how financing conditions affect affordability and demand.

    MY TAKEAWAY THIS WEEK

    This week’s property news reinforces a principle that applies across markets:

    Property decisions should be based on fundamentals, not headlines.

    In Malaysia, developers are becoming more cautious, housing-project rehabilitation remains important, and a proposed REIT listing offers another way to participate in property investment.

    In Dubai, buyers are showing greater interest in completed homes, while prices and rents are becoming more competitive in some segments.

    In Canada, higher borrowing costs are weighing on transactions.

    These markets have different conditions, but the underlying questions are similar.

    • Is the property priced reasonably?
    • Is there genuine demand?
    • Can the buyer afford to own it comfortably?
    • Does the investment generate sustainable income?
    • Are the risks manageable if the market changes?

    A property can look attractive on paper but still be unsuitable for a particular buyer.

    Look beyond the price. Understand the fundamentals before making the decision.

    Miichael Yeoh
    PROPERTY STRATEGIST
    miichaelyeoh.com

  • New Launch vs Subsale: Which Property Should You Buy?

    New Launch vs Subsale: Which Property Should You Buy?

    Written by: Miichael Yeoh

    A new property feels safer. An existing property feels more predictable.

    But neither statement is necessarily true.

    A new launch may offer attractive incentives, modern facilities and a fresh building. A subsale property may allow you to inspect the actual unit, understand the surrounding neighbourhood and investigate existing rental demand.

    So, which should you buy?

    The answer depends on what you’re paying, what you’re getting, what risks you’re taking and what you expect the property to deliver.

    Let’s look beyond the showroom and examine the decision properly.

    1. The Malaysian Property Market Is Giving Buyers a Reason to Be Selective

    Malaysia’s property market remained active in the first half of 2026.

    The first-half property market report recorded 187,320 property transactions worth RM105.12 billion. At the same time, 33,094 completed residential units remained unsold, valued at approximately RM17.78 billion.

    Developers also launched 27,832 residential units during H1 2026, with reported sales performance of 16.6%.

    These figures don’t mean new launches are bad or that subsale properties are automatically better.

    They tell us something more useful.

    Buyers should not assume that a new launch is a good purchase simply because a developer has launched it, or that an existing property is good value simply because someone is reselling it.

    Every property needs to be evaluated on its own merits.

    And that brings us to the first important difference.

    2. New Launch vs Subsale: What Are You Actually Buying?

    Let’s start with the basic distinction.

    A new-launch property is generally purchased directly from a developer, often before construction is completed.

    A subsale property is an existing property purchased from its current owner.

    That difference affects much more than the age of the building.

    Property Condition

    New launch: The property may still be under construction, so the finished quality cannot yet be fully assessed.

    Subsale: You can inspect the actual unit and building before making your decision.

    Pricing

    New launch: The price is set by the developer, with incentives or rebates subject to the terms offered.

    Subsale: The price may be negotiable, depending on the seller and comparable market transactions.

    Rental Income

    New launch: Rental income generally begins only after completion, handover and preparation for tenants.

    Subsale: Rental income may begin sooner if the property is ready and suitable for tenants.

    Construction Risk

    New launch: An uncompleted project carries delivery and construction-related risks.

    Subsale: A completed property avoids the risk of waiting for construction completion, although other risks remain.

    Defects and Renovation

    New launch: You may need to furnish the unit and address defects identified at handover.

    Subsale: You may need to repair existing defects, renovate or replace ageing fittings.

    Facilities and Management

    New launch: The long-term quality of building management has yet to be demonstrated.

    Subsale: You can assess the existing facilities, maintenance and management standards.

    Rental Demand

    New launch: Future rental demand must be estimated using market evidence and competing supply.

    Subsale: Existing rental listings and tenancy evidence may help you assess demand, although future conditions can change.

    Main Uncertainty

    New launch: Completion, final quality, future supply and market conditions.

    Subsale: Hidden defects, maintenance costs, building condition and future resale demand.

    Neither option wins every category.

    The mistake is choosing based on the benefits of one option while ignoring its disadvantages.

    3. Is a New Launch Cheaper Than a Subsale?

    This is where many buyers need to slow down.

    Imagine two condominiums in a similar location.

    Property A: New launch

    • Developer’s selling price: RM600,000
    • Advertised rebate: 8%
    • Indicative price after the rebate: RM552,000

    Property B: Subsale

    • Seller’s asking price: RM530,000
    • Negotiated purchase price: RM515,000

    At first glance, the subsale property appears cheaper.

    But are we comparing the same thing?

    What is the actual transaction price of comparable units?

    Does the new launch include furnishing, parking or other items that would otherwise cost extra?

    Does the subsale unit require RM30,000 in renovation?

    Are the maintenance fees comparable?

    Are both properties equally attractive to future tenants?

    What are the legal, financing and other acquisition costs applicable to each transaction?

    Until you answer these questions, you don’t know which property offers better value.

    Look Beyond the Advertised Price

    Developer incentives can reduce the buyer’s effective cost, but their value depends on the actual terms and what is included.

    Similarly, a subsale seller’s asking price may not reflect the final negotiated price.

    Compare the complete acquisition cost rather than relying on the headline figure.

    And remember:

    A lower purchase price does not automatically mean a better investment.

    4. The Hidden Difference: When Can the Property Start Working for You?

    For investors, this may be one of the most important differences.

    Suppose you purchase a new-launch condominium that will take several years to complete.

    During that period, you may have construction-stage financing payments, depending on the loan structure. You also have to wait until the property is completed, handed over and ready before rental income can begin.

    Now consider a completed subsale condominium.

    If the unit is in good condition and the rental market is established, you may be able to rent it out after completing the purchase and preparing the unit.

    The difference is time.

    Let’s Use a Simple Illustration

    Assume the subsale property can generate RM2,000 per month in rent once it is ready and occupied.

    If the new launch takes three years to complete, the theoretical gross rental income forgone over those 36 months is:

    RM2,000 × 36 months = RM72,000.

    That is a significant amount.

    But don’t misunderstand the calculation.

    RM72,000 is not a guaranteed loss or a complete comparison of the two investments. It is an illustration of potential gross rental income over that period, assuming the subsale could have been rented continuously.

    Actual results would depend on vacancy, expenses, financing, tenant demand and the timing of rental readiness.

    The new launch might also appreciate during construction. The subsale might need substantial renovation or suffer from weak tenant demand.

    The lesson is not that subsale always wins. It’s that time has a financial value, and investors should calculate it.

    5. Can You Trust the Rental Demand for a New Launch?

    This is a question I would ask before purchasing either type of investment property.

    A developer might describe a project as ideal for young professionals, expatriates or students.

    That may be a reasonable target market.

    But a target market is not proof of rental demand.

    Before buying, investigate:

    • Who actually works or studies nearby?
    • What rents are comparable units achieving?
    • How many similar units are already available?
    • How long do comparable properties typically take to find tenants?
    • What facilities and transport options matter to the intended tenants?
    • How many competing developments are expected to be completed?
    • What will make your property more attractive than the alternatives?

    For a completed subsale unit, you may be able to examine existing rental listings, speak to property managers and investigate actual tenancy evidence.

    For an uncompleted new launch, you will have to make more assumptions about future conditions.

    That doesn’t make the new launch a poor investment.

    It simply means the further you are from observable evidence, the more carefully you need to test your assumptions.

    6. What About Building Quality and Defects?

    One advantage of buying a new residential property from a developer is that qualifying purchases under prescribed housing development agreements have statutory protections, including a defect liability period.

    For standard Schedule G and Schedule H agreements, the defect liability period is generally 24 months from vacant possession, subject to the applicable agreement and legal provisions.

    However, a new building is not necessarily a defect-free building.

    You still need to inspect the unit when it is handed over, document defects and follow the proper procedures for reporting them.

    A subsale property presents a different situation.

    You can inspect the actual unit before purchasing, but you may inherit problems such as:

    • Water leakage
    • Damaged flooring
    • Ageing electrical or plumbing systems
    • Poor renovation work
    • Lift or common-area maintenance issues
    • Inadequate sinking-fund reserves
    • Disputes or management problems

    Some problems are visible. Others may require professional inspection or further investigation.

    For a subsale condominium, I would want to understand the condition of both the individual unit and the overall building.

    A brand-new unit can have defects. An older unit can be well maintained. Age alone does not determine quality.

    Note: The applicable legal protections depend on the type of property, transaction and agreement. Buyers should confirm their position with a qualified property lawyer.

    7. Don’t Ignore the Building’s Management

    This is particularly important when comparing condominiums.

    A new launch may offer an impressive swimming pool, gym, landscaped garden and other facilities.

    But who will maintain them?

    Will the maintenance charges be sustainable for residents?

    Will the facilities remain attractive after several years?

    For a completed property, you have something valuable: evidence of how the building is actually being managed.

    Look at:

    • The condition of common areas
    • Lift maintenance
    • Cleanliness and security
    • Maintenance-charge collection
    • Sinking-fund position
    • Major repairs required
    • Management responsiveness
    • The overall resident experience

    A well-maintained older condominium may provide a better ownership experience than a newer building with poor management.

    Equally, an older building with serious maintenance problems may create expenses that a buyer has underestimated.

    Don’t just compare the units. Compare the buildings behind them.

    8. Which Is Better for First-Time Homebuyers?

    There is no universal answer, but the priorities are different from those of an investor.

    A first-time buyer should consider:

    Affordability: Can you comfortably manage the purchase and ongoing costs?

    Move-in timing: Do you need a home soon, or can you wait for construction to finish?

    Location: Does it work for your job, family, transport needs and daily routine?

    Condition: Are you prepared to manage renovation, repairs or defects?

    Certainty: Would you prefer to inspect an existing unit, or are you comfortable committing to a property that has not yet been completed?

    Future flexibility: If your job or family circumstances change, will the property be reasonably easy to rent out or sell?

    A new launch may suit someone who wants a new home and can wait for completion.

    A subsale may suit someone who wants to inspect the actual property and move in sooner.

    But neither option should stretch your finances to the point that a change in income becomes a crisis.

    Your first property should support your life, not make your life revolve around the mortgage.

    9. Which Is Better for Property Investors?

    For investors, I would focus less on whether the property is new or old and more on the investment case.

    Ask five questions.

    A. What Is My Total Investment?

    Include the purchase price, transaction costs, financing costs, renovation, furnishing and other relevant expenses.

    B. When Can I Realistically Earn Rental Income?

    Account for construction, completion, preparation, vacancy and tenant-finding time.

    C. What Is My Expected Net Return?

    Do not confuse gross rental yield with actual cash flow or net return. Include recurring expenses, vacancy, repairs and financing where relevant.

    D. What Competition Am I Facing?

    Consider both existing properties and future supply.

    E. How Will I Exit?

    Think about the future buyer, resale demand, likely competition and the price at which the property might realistically sell.

    A new launch could offer an attractive opportunity if the price, location, product and future demand justify the purchase.

    A subsale could be attractive if its price is supported by evidence, its condition is acceptable and its rental or owner-occupier demand is sustainable.

    Either could be a poor investment if the numbers don’t work.

    10. The PDS New Launch vs Subsale Decision Test

    Before making a decision, I would compare the two properties using the same framework.

    1. What is the true acquisition cost?

    Include the purchase price, incentives, legal costs, financing and necessary improvements.

    2. What evidence supports the price?

    Look at comparable transactions and the property’s actual features.

    3. What demand exists?

    Investigate owner-occupier demand, tenant demand and the reasons people choose the location.

    4. What are the holding costs?

    Calculate the mortgage, maintenance, repairs, insurance and other recurring expenses.

    5. What risks am I accepting?

    Consider construction, defects, renovation, vacancy, management and future supply.

    6. What is the realistic return?

    Assess net rental income, financing impact, potential capital appreciation and costs.

    7. How will I exit?

    Identify the likely future buyer, resale demand and competing properties.

    The most important point is to compare like with like.

    If the two properties are in different locations, serve different tenant markets or offer different layouts, a simple price comparison may be misleading.

    And if you’re comparing a completed property with one that won’t be ready for several years, timing needs to be part of the analysis.

    So, New Launch or Subsale?

    My answer is straightforward.

    Buy a new launch when the product, price, developer, location and future demand justify the commitment.

    Buy a subsale when the actual property, condition, market evidence and total cost make the purchase worthwhile.

    Don’t choose a new launch just because it is new.

    Don’t choose a subsale just because it appears cheaper.

    And don’t assume that developer incentives, a beautiful showroom or an existing tenant automatically make a property a good investment.

    The right decision comes from understanding what you are buying and why it should meet your needs.

    That is the difference between choosing a property and evaluating a property.

    The Final PDS Insight

    When buyers compare new launches and subsale properties, they often begin with the wrong question:

    “Which one is better?”

    I would start somewhere else.

    “Better for whom, at what price, for what purpose and over what period?”

    A property that suits a first-time homeowner may not suit a rental investor.

    A property that works for a ten-year holding period may not work for someone who needs flexibility within three years.

    And a property that looks attractive today may face very different competition tomorrow.

    There is no shortcut around the discovery process.

    There is only a better way to make the decision.

    Don’t just compare the properties. Discover the decision behind them.

    Property Discovery System™

    Discover Better. Decide Smarter.

  • WEEKLY PROPERTY ROUNDUP

    WEEKLY PROPERTY ROUNDUP

    Week in Review | Saturday, 3 October – Friday, 9 October 2026

    Explore five property updates from Malaysia, Australia and the UK, covering Budget 2027 housing measures, infrastructure delivery and changing market conditions.

    🇲🇾 STORY 1 — Budget 2027: New Stamp Duty Relief for First-Time Homebuyers

    What Happened?

    On 9 October 2026, Prime Minister Anwar Ibrahim tabled Budget 2027, proposing stamp duty exemptions for eligible first-time homebuyers.

    The proposed measures are:

    • Homes priced up to RM500,000: Full stamp duty exemption on the loan agreement and instrument of transfer.
    • Homes priced up to RM750,000: Full exemption on the first RM500,000, with a 50% exemption on the remaining amount.
    • Proposed eligibility period: Sale and purchase agreements executed from 1 January 2027 to 31 December 2030.

    The government also proposed stamp duty relief for transactions involving the rehabilitation of abandoned housing projects. Prime Minister’s Office Malaysia

    Sources: Prime Minister’s Office of Malaysia — Budget 2027 speech · The Star — First-home stamp duty announcement

    Why It Matters

    Stamp duty can be a significant upfront expense for a homebuyer.

    Reducing this cost could make it easier for some first-time buyers to complete a purchase, particularly those already stretching their savings to cover the deposit, legal fees, moving expenses and basic furnishing.

    However, there is an important distinction between making a home cheaper to purchase and making it affordable to own.

    Monthly instalments, maintenance charges, insurance, repairs and emergency savings remain part of the equation.

    Miichael’s Review

    I welcome measures that reduce the barriers to homeownership.

    But I would not advise anyone to rush into buying a property simply because an incentive is available.

    Before making a decision, buyers should ask themselves three questions:

    1. Can I comfortably afford the monthly repayments?
    2. Will I still have sufficient cash reserves after completing the purchase?
    3. Is this the right property for my needs, location and long-term plans?

    The proposed exemption is useful, but the final eligibility rules and implementation details must also be checked.

    My view: A government incentive should improve a sound property decision, not become the reason for making one.

    🇲🇾 STORY 2 — RM20 Billion Housing Guarantee to Support 80,000 First-Time Buyers

    What Happened?

    Budget 2027 provides for housing financing guarantees of up to RM20 billion through the Housing Credit Guarantee Scheme (SJKP), with the aim of assisting 80,000 first-time buyers.

    The scheme particularly targets people who may struggle to obtain conventional housing financing because they are self-employed or do not receive a fixed monthly income.

    The government also announced nearly RM1 billion for housing initiatives, including Rumah Mesra Rakyat and Program Residensi Rakyat. Four new housing projects were announced for Kulai in Johor, Nilai in Negeri Sembilan, Paya Rumput in Melaka and Pertang Valley in Terengganu. Prime Minister’s Office Malaysia

    Sources: Prime Minister’s Office of Malaysia — Budget 2027 housing measures · The Star — RM20 billion SJKP guarantee

    Why It Matters

    This addresses one of the practical challenges facing Malaysian homebuyers: access to financing.

    Some self-employed individuals have sufficient income to meet repayments but find it difficult to satisfy conventional lending requirements because their earnings fluctuate or are documented differently.

    A financing guarantee can help eligible applicants access housing loans. However, it does not mean every applicant will automatically receive loan approval.

    There is also a wider issue to consider.

    Helping more people obtain financing is only part of the solution. The market must also provide homes that buyers can genuinely afford, in locations that suit their work, family needs and daily routines.

    Miichael’s Review

    This measure is particularly relevant to younger buyers, entrepreneurs and people with non-traditional income arrangements.

    However, I would like to see how the scheme works in practice.

    How accessible will it be? What are the eligibility conditions? Will the homes available to these buyers match their budgets?

    Financing access and housing affordability must work together.

    Otherwise, we may help people qualify for loans without necessarily helping them find suitable homes.

    🇲🇾 STORY 3 — Sabah Pan Borneo Highway: Infrastructure Delivery Matters More Than Announcements

    What Happened?

    The Auditor-General’s Report 2/2026, tabled on 5 October, highlighted cost increases and delivery problems affecting Sabah Pan Borneo Highway Phase 1.

    The report stated that contract costs had risen to RM18.96 billion, compared with the original RM17.91 billion.

    As at 31 March 2026, only 4 of the 35 work packages had been completed.

    The report also identified site-readiness and land-acquisition problems, RM513.99 million in variation orders approved beyond authorised limits, and RM41.37 million in delayed utility claims. These are figures reported in the audit, and the completion count relates to the position at the stated date. EdgeProp

    Source: EdgeProp Malaysia — 5 October property and infrastructure digest, reporting on the Auditor-General’s Report 2/2026.

    Why It Matters

    Infrastructure can influence property values by improving access to employment, commercial centres, tourism destinations and essential services.

    But there is a difference between a project being announced, a project being constructed and a project being completed and operational.

    Delays can postpone the economic benefits that were expected to support surrounding areas.

    For buyers and investors, this means that a property’s location should be evaluated against infrastructure that is actually available, as well as projects that remain under construction.

    Miichael’s Review

    When evaluating property near a major infrastructure project, I would not rely on a developer’s location map alone.

    I would examine:

    • Which sections of the road are already operational?
    • How much travel time will actually be saved?
    • Are employment opportunities and commercial activities growing nearby?
    • Will utilities and public services be sufficient for future development?
    • Is the property priced as though future improvements have already been delivered?

    Infrastructure creates potential, but execution determines when—and whether—that potential becomes real.

    This is an important lesson for property buyers in every state, not just Sabah.

    🌏 INTERNATIONAL PROPERTY WATCH

    🇦🇺 STORY 4 — Australia: Housing Prices Fall for a Sixth Consecutive Month

    What Happened?

    National Australia Bank’s October Housing Monitor, published on 7 October, reported that dwelling prices across Australia’s combined capital cities fell 1.2% month-on-month in September 2026.

    This marked the sixth consecutive monthly decline. Prices were 6.4% below their March 2026 peak.

    NAB also revised its forecast to an 8% decline in capital-city dwelling prices over 2026, with a possible peak-to-trough decline of 11%.

    The median time a property spent on the market increased to 41 days, the highest level since late 2020. These figures reflect NAB’s analysis and forecasts, not guaranteed future outcomes. NAB

    Source: National Australia Bank — October 2026 Housing Monitor

    Why It Matters

    The downturn has broadened beyond the markets that initially showed the greatest weakness.

    For buyers, falling prices and longer selling periods may create more room for negotiation. Sellers may need to be more realistic about pricing and the time required to secure a buyer.

    But a declining market does not automatically mean every property is a bargain.

    A property bought at a lower price can still be a poor investment if rental demand is weak, financing costs are high or the local economy deteriorates.

    Miichael’s Review

    I would not look at falling prices in isolation.

    For investors, the more important questions are:

    • Is the purchase price attractive relative to comparable properties?
    • Can rental income reasonably cover the holding costs?
    • Is the local employment base resilient?
    • Can the investment withstand a longer period of weak prices?
    • Would I still want to own this property if the market took several years to recover?

    The best buying opportunity is not necessarily when prices fall the most. It is when the price, risk and long-term fundamentals make sense together.

    🇬🇧 STORY 5 — United Kingdom: Buyer Confidence Weakens While Rental Demand Remains Firm

    What Happened?

    The Royal Institution of Chartered Surveyors (RICS) published its September UK Residential Market Survey on 6 October.

    The survey reported:

    • New buyer enquiries: Net balance of -22%, compared with -18% in August.
    • Agreed sales: Net balance of -18%, compared with -16% in August.
    • House-price sentiment: Net balance of -32%, compared with -28% in August.
    • Tenant demand: Net balance of +23%.
    • Expected rental growth: Net balance of +37% for the following three months.

    The figures suggest weaker buyer sentiment and sales activity alongside continued rental demand. RICS

    Source: RICS — UK Residential Survey, September 2026

    Why It Matters

    The sales and rental markets do not always move in the same direction.

    In the UK, buyers were becoming more cautious while rental demand remained comparatively strong.

    One important clarification: RICS net balances measure the difference between respondents reporting increases and those reporting decreases. A -32% house-price balance does not mean that actual house prices fell by 32%.

    For property investors, rental demand is only one part of the equation. Purchase price, mortgage costs, taxes, maintenance, regulation and net rental yield all matter.

    Miichael’s Review

    This is a good example of why property investors should separate capital-growth expectations from rental fundamentals.

    A market may offer rental opportunities even when transaction activity is weak. But strong rental demand alone does not guarantee a good investment.

    Investors need to understand what remains in their pocket after financing, maintenance, taxes and other expenses.

    Rental demand is a useful signal. Net returns and the ability to sustain ownership are what ultimately matter.

    WORTH WATCHING

    Over the coming weeks, I would pay particular attention to four developments.

    1. Malaysia’s Budget 2027 implementation

    The proposed stamp duty exemptions are encouraging, but the final eligibility conditions and implementation documents will be important. Buyers should not assume that every transaction automatically qualifies.

    2. Financing access for first-time buyers

    The RM20 billion SJKP guarantee is a substantial measure. The next question is how effectively it translates into approved financing and sustainable homeownership.

    3. Infrastructure execution in Malaysia

    The Pan Borneo audit highlights the importance of monitoring actual construction progress, costs and completion dates. Future property decisions should be based on realistic delivery expectations.

    4. International borrowing costs and market conditions

    Australia and the UK show why buyers and investors must continue to monitor financing costs, transaction activity, prices and rental conditions rather than relying on a single market headline.

    MY TAKEAWAY THIS WEEK

    This week reinforces a principle I have always believed in: a property decision should never be based on price alone.

    Malaysia is trying to reduce barriers to homeownership, but buyers still need sustainable financing and suitable homes.

    Australia reminds us that prices can continue falling longer than investors expect.

    The UK shows that sales and rental conditions can move in different directions.

    And the Pan Borneo audit reminds us that infrastructure announcements only create lasting value when projects are delivered.

    For buyers and investors, the questions remain the same:

    • Can I afford it comfortably?
    • Is there genuine demand?
    • Does the location have the infrastructure and economic activity to support it?
    • Do the numbers work under conservative assumptions?
    • Would this still be a sensible decision if the market did not rise as quickly as I hoped?

    Look beyond the price. Understand the fundamentals before making the decision.

    Miichael Yeoh
    PROPERTY STRATEGIST
    www.miichaelyeoh.com

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  • Malaysia Budget 2027: What Property Buyers, Investors and Developers Need to Know

    Malaysia Budget 2027: What Property Buyers, Investors and Developers Need to Know

    By Miichael Yeoh | Property Discovery System(PDS)

    Malaysia’s Budget 2027 has introduced several measures that could influence the country’s property market, from first-home ownership and housing financing to the rehabilitation of abandoned housing projects.

    But what do these announcements actually mean for Malaysians considering a property purchase?

    A stamp duty exemption may reduce the upfront cost of buying a home. A housing loan guarantee may help certain buyers access financing. Public housing and infrastructure investments may create opportunities in selected locations.

    Yet none of these measures automatically makes a property affordable, a development attractive or an investment profitable.

    For homebuyers, investors and developers, the more important question is how these policies affect real property decisions.

    Here is my assessment of the key property-related measures in Malaysia Budget 2027 and what they could mean for the market, including Penang.

    1. First-home buyers: Stamp duty relief expands up to RM750,000

    One of the most significant property announcements in Budget 2027 is the proposed expansion of stamp duty exemptions for first-home purchases.

    According to the Budget speech delivered by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim on 9 October 2026, the proposed relief will apply to sale and purchase agreements executed from 1 January 2027 to 31 December 2030.

    The proposed structure is:

    • First homes priced up to RM500,000: Full stamp duty exemption on the instrument of transfer and housing loan agreement.
    • First homes priced above RM500,000 and up to RM750,000: Full exemption on the first RM500,000, with a 50% exemption on the remaining amount.

    The proposal is intended to reduce the upfront costs of purchasing a first home.

    Source: Prime Minister’s Office — Budget 2027 speech

    What does this mean for homebuyers?

    For eligible buyers, lower stamp duty can reduce the cash required at the point of purchase.

    The expanded price range is also relevant to buyers who have been looking at homes above RM500,000 but below RM750,000. However, the actual savings will depend on the final implementation rules, the transaction value and the applicable loan terms.

    Buyers should also distinguish between a reduction in transaction costs and an improvement in long-term affordability.

    A home that qualifies for stamp duty relief may still be financially unsuitable if the monthly instalment, maintenance charges, insurance and other commitments stretch the household budget.

    My view: Treat stamp duty relief as a financial advantage, not the main reason to buy a property.

    2. RM20 billion in housing financing guarantees for first-time buyers

    Budget 2027 also provides for up to RM20 billion in housing financing guarantees through the Housing Credit Guarantee Scheme, known as SJKP.

    The scheme is expected to assist approximately 80,000 first-time homebuyers, with particular attention to self-employed individuals and people without fixed monthly incomes.

    This is important because not every prospective buyer has a conventional salary structure.

    Business owners, freelancers and other self-employed individuals may have sufficient earning capacity but face difficulties meeting standard income-documentation requirements.

    SJKP is intended to improve access to housing financing for eligible applicants.

    Source: BERNAMA — Budget 2027 housing financing guarantees

    Does a housing guarantee mean everyone can obtain a loan?

    No. A guarantee does not automatically mean loan approval.

    Applicants must still meet the scheme’s eligibility conditions and the relevant lender’s assessment requirements. Buyers should confirm the applicable financing limits, documentation requirements and repayment obligations before committing to a purchase.

    The key consideration is not simply whether financing is available, but whether the buyer can comfortably sustain the repayments.

    My view: Better financing access is useful when it connects eligible buyers with homes they can genuinely afford. It becomes risky if buyers interpret easier access to financing as a reason to borrow beyond their means.

    3. Can Budget 2027 help revive abandoned housing projects?

    Another significant proposal is the full stamp duty exemption for qualifying transactions involving the rehabilitation of abandoned housing projects.

    The proposed relief covers loan agreements and instruments of transfer executed by contractors or developers rescuing abandoned projects, as well as by the original purchasers involved in those projects.

    The proposed effective period is 1 January 2027 to 31 December 2030.

    The measure forms part of the government’s stated ambition to achieve zero abandoned housing projects by 2030.

    Source: Prime Minister’s Office — Budget 2027 speech

    Will this solve the abandoned housing problem?

    Stamp duty relief can reduce transaction costs, but reviving an abandoned project is more complicated than reducing taxes.

    A successful rescue may depend on:

    • Whether the project is financially viable.
    • Whether a capable rescue developer can be appointed.
    • Whether land, financing and legal issues can be resolved.
    • Whether construction can be completed within a realistic timeframe.
    • Whether original purchasers can ultimately receive their homes.

    For affected buyers, the priority remains understanding the legal and financial status of the project and the conditions under which completion can proceed.

    My view: The incentive is a useful part of the solution, but actual project rehabilitation and delivery will be the real test.

    4. Nearly RM1 billion for housing programmes

    Budget 2027 provides nearly RM1 billion for programmes including Rumah Mesra Rakyat and Program Residensi Rakyat.

    Four new housing projects are identified in Kulai, Johor; Nilai, Negeri Sembilan; Paya Rumput, Melaka; and Pertang Valley, Terengganu.

    The Budget also identifies Bandar MADANI Bukit Jalil as a residential development with supporting amenities, including a vertical school.

    These initiatives reflect the continuing role of government-supported housing in addressing housing needs.

    Source: Prime Minister’s Office — Budget 2027 speech

    For buyers, however, the announcement of a housing programme is only the beginning.

    Eligibility, location, unit pricing, delivery schedules and access to public amenities all affect whether a particular development meets a household’s needs.

    Affordable housing should not be assessed by price alone. Accessibility to employment, transport, schools and essential services also matters.

    5. What could Budget 2027 mean for Penang property?

    Penang’s property market has its own economic drivers. Its manufacturing base, semiconductor ecosystem, employment opportunities, infrastructure and limited availability of certain types of land all influence property demand.

    Budget 2027 includes a RM100 million Strategic Investment Fund involving Khazanah and InvestPenang to support early-stage semiconductor and advanced manufacturing companies.

    The Budget also identifies transport-related infrastructure investment involving roads in port areas and airports, including Penang International Airport.

    These announcements could have indirect implications for property demand if they translate into business expansion, job creation and improved connectivity.

    Source: Prime Minister’s Office — Budget 2027 speech

    Which property segments could benefit?

    Industrial and logistics property

    Business expansion may create demand for suitable industrial facilities, warehouses and supporting commercial space. Actual demand will depend on investment commitments, company requirements and available supply.

    Residential property near employment centres

    If industrial investment generates additional jobs, it could support demand for housing in accessible locations. The effect will vary according to workers’ incomes, commuting patterns, rental budgets and the supply of competing homes.

    Commercial property

    Business growth may create opportunities for offices, retail services and other supporting uses. These opportunities should be assessed against occupancy, tenant demand and operating costs.

    Does this mean Penang property prices will rise?

    Not necessarily.

    Infrastructure and investment announcements are not guarantees of capital appreciation. The impact on individual developments depends on their location, purchase price, accessibility, competing supply, rental demand and the actual delivery of the announced projects.

    For buyers, the right question is not simply whether an area will benefit from economic growth. It is whether a particular property is priced reasonably relative to its likely demand and long-term usefulness.

    6. What should property investors watch?

    Budget 2027 creates several areas worth monitoring, but investors should distinguish between a policy announcement and a measurable investment opportunity.

    Follow employment and business expansion

    Industrial investment may support housing and commercial demand, but the most useful evidence will be actual investment commitments, completed facilities, employment growth and tenant activity.

    Assess rental demand rather than relying on capital appreciation

    A property near an expanding employment centre may attract tenants, but rental demand does not guarantee a satisfactory yield.

    Investors should calculate realistic rental income after vacancies, maintenance, management fees, financing costs and other expenses.

    Check competing supply

    Even a location with strong economic activity can experience weak rental performance if too many similar units compete for tenants.

    Evaluate the purchase price

    Government incentives can influence demand, but buyers still need to assess whether the asking price is supported by comparable transactions, rental evidence and the property’s fundamentals.

    My view: Investors should follow the economic effects of the Budget, not simply the headlines. A good investment still requires a sound entry price and a clear understanding of risk.

    7. What does Budget 2027 mean for property developers?

    The Budget’s housing measures may help reduce some barriers to homeownership. However, developers continue to face the practical challenges of land, construction, financing, regulatory compliance and buyer affordability.

    The Real Estate and Housing Developers’ Association Malaysia (REHDA) welcomed the proposed homeownership measures and housing financing guarantees. It also called for a review of development-related charges and highlighted construction costs and the need to address completed but unsold residential properties.

    Source: EdgeProp — REHDA’s response to Budget 2027

    For developers, three questions deserve attention.

    First, does the product match the buyer’s budget?

    A property may have attractive facilities and branding, but the target buyer must still be able to afford the purchase and ongoing ownership costs.

    Second, does the project offer a clear reason to buy?

    Location, accessibility, layout, price, surrounding amenities and realistic future demand matter more than marketing claims alone.

    Third, is the sales process helping buyers make confident decisions?

    Buyers need clear information about costs, financing, project delivery, ownership obligations and relevant risks.

    The Budget may improve some aspects of the purchasing environment, but it cannot replace sound product positioning, credible communication and responsible sales practices.

    8. Five questions every homebuyer should ask before purchasing

    Regardless of government incentives, I encourage buyers to work through five questions before making a commitment.

    1. Can I afford this property comfortably? Calculate the deposit, transaction costs, monthly instalment, maintenance and a realistic contingency reserve.
    2. Does the location fit my needs? Consider employment, transport, schools, amenities and daily travel requirements.
    3. Is the price supported by evidence? Compare similar properties, recent transactions and realistic rental values where relevant.
    4. What risks am I taking? Understand the developer’s track record, construction status, legal terms, competing supply and likely holding costs.
    5. Does this property fit my long-term plan? A home for own occupation and an investment property may require different priorities.

    These questions are especially important when an incentive makes a purchase appear more attractive. A lower upfront cost does not necessarily make a property the right choice.

    9. My takeaway: Policy support is useful, but property decisions still matter

    Malaysia Budget 2027 proposes meaningful support for first-home buyers through expanded stamp duty relief, housing financing guarantees and measures intended to facilitate the rehabilitation of abandoned projects.

    It also identifies housing programmes and investment initiatives that could influence economic activity in selected locations, including Penang.

    The eventual impact will depend on implementation, financing access, actual investment and the underlying supply and demand for property.

    For homebuyers, the opportunity is to understand the assistance available without losing sight of affordability.

    For investors, it is to identify genuine demand rather than assume every policy announcement will increase property values.

    For developers, it is to understand what buyers need and communicate the value of a project clearly and responsibly.

    At the Property Discovery System™ (PDS), our approach is straightforward: understand the market, evaluate the options, identify the risks and make decisions based on evidence.

    Because buying property should never be about following a headline alone.

    Discover Better. Decide Smarter.

    This article is for general property education and information. Budget 2027 measures described as proposed remain subject to the relevant legislation, implementation guidelines and eligibility requirements. Readers should confirm their individual circumstances with the relevant authorities and professional advisers before making financial or property decisions.

  • MONDAY PROPERTY DISCOVERY Week in Review 8–14 August 2026

    MONDAY PROPERTY DISCOVERY Week in Review 8–14 August 2026

    Upcoming Event

    Click image to register

  • What If Buying Property Started With Questions, Not Projects?

    What If Buying Property Started With Questions, Not Projects?

    A different way to think about property buyers, developers and better decisions

    When people start looking for a property, the first question is often:

    “Which property should I buy?”

    Perhaps we should be asking a different question first:

    “What am I actually looking for?”

    It sounds like a small difference.

    It isn’t.

    Today, property buyers have access to more information than ever before. They can compare prices online, watch property tours, read reviews, study locations, look at transaction data and explore dozens of projects without leaving home.

    Yet having more information does not necessarily mean making better decisions.

    In fact, sometimes it creates another problem.

    Information overload.

    A buyer may know the price, size, facilities, tenure and estimated rental yield of a property — but still not know whether the property actually makes sense for them.

    And this is where I believe the property conversation needs to change.

    Start With the Buyer, Not the Project

    Most property journeys begin with a project.

    A buyer sees an advertisement.

    A friend recommends a development.

    A property consultant introduces a new launch.

    A developer presents an attractive package.

    The project becomes the starting point of the conversation.

    From there, the buyer begins asking:

    Is the price good?
    Is the location good?
    Will it appreciate?
    Can I rent it out?
    Is this a good investment?

    But there is an important question that often comes much earlier:

    Good for whom?

    A property can be an excellent project and still be the wrong property for a particular buyer.

    The location may be excellent, but unsuitable for the buyer’s lifestyle.

    The rental potential may look attractive, but the numbers may not work after financing costs and expenses.

    The future development potential may be strong, but the buyer may need liquidity much sooner.

    The property itself may be good.

    The decision may still be wrong.

    The Developer Sees the Property Differently

    This isn’t necessarily because developers are doing something wrong.

    Developers have a responsibility to present their projects — the location, design, facilities, specifications, pricing and value proposition.

    They need buyers to understand what they are offering.

    But buyers are looking at the same property through a completely different lens.

    They are asking:

    “What does this mean for me?”

    That is where the gap can appear.

    Developers communicate the value of the project.

    Buyers are trying to understand the value of the decision.

    Those two things are related — but they are not exactly the same.

    And perhaps there is an opportunity to bring them closer together.

    Better Questions Can Lead to Better Decisions

    I have spent many years working across banking, investment, property and education, and one thing has become increasingly clear to me:

    The quality of a property decision often depends on the quality of the questions being asked.

    Instead of immediately asking:

    “Is this a good property?”

    we could ask:

    • Does it fit the way I intend to live?
    • What opportunity does this location create?
    • Can I comfortably afford it?
    • What happens if my circumstances change?
    • What is the potential exit value?
    • What risks am I overlooking?
    • Am I buying because the property makes sense — or because I am being persuaded that it makes sense?

    These questions do not make the buying process more complicated.

    They make it more meaningful.

    This Is Where Property Discovery System™ Comes In

    This thinking was one of the reasons I developed the Property Discovery System™ (PDS).

    PDS is not designed to tell a buyer which property to buy.

    Instead, it provides a structured way to discover, evaluate and understand a property before making the decision.

    At the heart of the system is the HOME™ Property Assessment Framework:

    H — Habitability
    Does the property and its environment make sense for the way it will actually be used?

    O — Opportunity
    What does the location, market and surrounding environment potentially offer?

    M — Money
    Does the financial commitment make sense based on affordability, cash flow and overall financial considerations?

    E — Exit Value
    If circumstances change, what potential options and value does the property offer when the buyer eventually needs to exit?

    The objective is not to produce a magical number that says “buy” or “don’t buy.”

    Property decisions are rarely that simple.

    The objective is to help a buyer think more clearly before deciding.

    And What About Developers?

    This approach is not only useful for buyers.

    I believe it can also create value for developers.

    Imagine a buyer arriving at a project presentation already understanding:

    • what they are looking for;
    • what matters to them;
    • how the location fits their needs;
    • what financial considerations they need to evaluate;
    • and what questions they should be asking.

    The developer can then spend less time simply trying to convince the buyer that the project is attractive.

    Instead, the conversation can move towards:

    “Let us show you why this project may — or may not — fit what you are looking for.”

    That is a different kind of conversation.

    And I believe it is a healthier one.

    Perhaps Buyers and Developers Are Not Opposite Sides

    The property industry sometimes makes it appear as though buyers and developers sit on opposite sides of the table.

    I don’t see it that way.

    A responsible buyer wants to make a sound decision.

    A good developer wants its project to attract the right buyers and deliver what it promises.

    Both sides benefit when the buyer understands the decision better.

    That is why I see PDS not as another property sales tool, but as a bridge between property discovery and property decision-making.

    The developer still presents the project.

    The buyer still makes the decision.

    But the conversation starts from a more informed place.

    Maybe We Have Been Starting Too Late

    Perhaps the property buying journey should not begin when a buyer walks into a show gallery.

    Perhaps it should begin much earlier.

    Before the brochure.

    Before the show unit.

    Before the sales presentation.

    Before the question:

    “How much is it?”

    It should begin with:

    “What am I trying to achieve?”

    Then:

    “What should I be looking for?”

    And only after that:

    “Which property fits?”

    That is the thinking behind Property Discovery System™.

    Because I don’t believe people need more property projects to choose from.

    They need a better way to discover which properties deserve their attention in the first place.

    Discover Better. Decide Smarter.

    That, to me, is where a better property journey begins.

    From The Desk Of

    Miichael Yeoh

  • Is the Property Market Slowing Down… Or Are Buyers Becoming More Picky?

    Is the Property Market Slowing Down… Or Are Buyers Becoming More Picky?

    Lately, many people have been asking:

    “Is the property market slowing down?”

    Some projects are taking longer to sell.
    Some launches are seeing slower take-up.
    Buyers seem to be hesitating more before committing.

    At first glance, it may appear that the market is becoming weak.

    But when we look deeper into the numbers and buyer behaviour, the story may actually be different.

    According to the National Property Information Centre (NAPIC), Malaysia recorded more than 420,000 property transactions in 2024 — one of the strongest performances in the past decade.

    This tells us something important:
    The market still has buyers.

    However, today’s buyers are no longer buying property the same way they did years ago.

    Buyers today are becoming more informed, more cautious, and more selective before making decisions.

    In the past, some buyers purchased based on emotions, marketing hype, showroom designs, rebates, or fear of missing out (FOMO).

    Today, buyers are asking more questions:

    • Is the pricing reasonable?
    • Is there real demand in the area?
    • Can the property generate rental income?
    • Is the developer reliable?
    • Is there oversupply nearby?
    • Will the property still hold value in the future?

    In short — buyers today are becoming more picky.

    And honestly, that is not necessarily a bad thing.

    A property purchase is one of the biggest financial commitments for most people. Buyers today are thinking carefully about:

    • Monthly instalments
    • Interest rates
    • Maintenance fees
    • Cash flow commitments
    • Rental demand
    • Future resale value
    • Lifestyle suitability
    • Long-term financial stability

    This explains why some projects continue to perform well while others struggle with slower take-up.

    In fact, NAPIC data also shows that Malaysia continues to face residential overhang issues in certain market segments. This means completed units remain unsold due to factors such as pricing mismatch, oversupply, poor accessibility, weak product positioning, or changing buyer preferences.

    This does not mean there are no buyers in the market.
    It simply means buyers are becoming more selective about where they place their money.

    Before buying any property project, buyers should spend time understanding:

    • The actual market demand
    • Existing and future supply in the area
    • Nearby competing developments
    • Developer track record and credibility
    • Connectivity and infrastructure plans
    • Market pricing compared to surrounding projects
    • Rental and resale potential
    • Their own financial holding power
    • Whether the property truly fits their long-term goals

    Many people still buy emotionally.
    But smart buyers buy strategically.

    A beautiful showroom alone should never be the reason to purchase a property.

    One thing I always encourage buyers to do before committing is to attend property seminars, educational talks, and market-sharing sessions.

    Why?

    Because knowledge reduces expensive mistakes.

    A good seminar can help buyers:

    • Understand current market trends
    • Learn from real case studies
    • Compare projects more objectively
    • Understand buyer psychology and market cycles
    • Avoid common investment mistakes
    • Gain confidence before making a large commitment

    In today’s market, education is becoming one of the most important tools for property buyers.

    The market may not necessarily be weak.
    It may simply be that buyers today are smarter, more informed, and more selective than before.

    And personally, I believe that is a healthy direction for the property market.

    From the Desk of,

    Miichael Yeoh

    Property Strategist

    Disclaimer: This reflects the author’s personal views based on market experience and current observations. It is not financial advice. Smart investors do their own research before making any move.

  • Real Estate Summit 2025: A Resounding Success!

    Real Estate Summit 2025: A Resounding Success!

    After two days of insightful discussions, expert sharing, and valuable networking, the Real Estate Summit 2025 (RES2025) has officially concluded! This event brought together some of the most renowned experts in real estate, finance, and investment, providing participants with actionable insights into the property market, financial planning, and smart investment strategies for 2025.

    We were honored to welcome participants from Malaysia, the Philippines, Singapore, the USA, Germany, and many other countries. The diversity of attendees enriched discussions and created a vibrant learning environment.

    A Heartfelt Thank You to Our Participants & Speakers

    First and foremost, we extend our deepest gratitude to all participants for attending RES2025. Your enthusiasm and eagerness to learn made this event truly impactful.

    A special appreciation to our distinguished speakers, whose expertise and insights played a crucial role in the success of RES2025:

    🔹 Dato’ Sri Gavin Tee – A real estate expert who shared his forecast on the 2025 property market and upcoming investment opportunities.
    🔹 Richard Oon – A taxation and financial planning specialist who guided participants on tax-saving strategies and financial management for property investors.
    🔹 Dr. Daniele Gambero – A respected market analyst who discussed real estate trends, mortgage challenges, and investment potential in 2025.
    🔹 Dr. Elane Goh – A finance and investment strategist who shared her insights on wealth creation through property investments and financial planning.
    🔹 WK Ng – A seasoned property investor who transitioned from the corporate world to full-time investing, providing real-life success strategies.
    🔹 KW Wong – A PropTech innovator and Secretary-General of the Malaysia PropTech Association, who spoke about the digital transformation of the rental market.
    🔹 Charles Tan – A leading property market analyst who offered valuable perspectives on Malaysia’s evolving real estate landscape.
    🔹 Miichael Yeoh – A mortgage and financial expert, who emphasized the importance of planning before making any major investment decisions.

    Your dedication and willingness to share your knowledge made RES2025 a game-changing event for all attendees.

    Special thanks to our co-organiser POLA Malaysia and our media partners Property Hunter and kopiandproperty.

    Key Takeaways from RES2025

    Throughout the two-day summit, participants gained powerful insights into the property industry, with topics covering:

    ✔️ Where to Invest in 2025 – Discovering high-potential investment hotspots.
    ✔️ Real Estate Market Trends – Adapting to economic shifts and evolving regulations.
    ✔️ Financial Planning & Taxation – Understanding tax incentives, financial structures, and mortgage strategies.
    ✔️ Mortgage Market 2025 – The latest developments in home financing and lending policies.
    ✔️ PropTech Innovations – The rise of digital property platforms and the impact on buying, selling, and renting.
    ✔️ Investment Strategies – How to build a profitable real estate portfolio.

    As Miichael Yeoh emphasized in his session: “Plan first before making your next move.” Strategic financial and investment planning is essential to achieving long-term success in real estate.

    The Power of Networking & Knowledge Sharing

    Beyond expert talks, RES2025 provided an invaluable opportunity for participants to connect with industry leaders, experienced investors, and like-minded individuals. The event fostered an environment where attendees could exchange ideas, gain exclusive insights, and build meaningful professional relationships.

    Looking Forward: What’s Next?

    The success of RES2025 reaffirms GM Training Academy’s commitment to empowering individuals with property education and financial literacy. We believe that informed decisions lead to successful investments, and we are dedicated to helping investors, homeowners, and professionals navigate the ever-changing real estate market.

    🚀 Upcoming Initiatives:

    ✅ More masterclasses and training workshops
    ✅ Exclusive webinars featuring top industry experts
    ✅ Property investment study tours
    ✅ Advanced financial and mortgage planning courses

    Stay Connected & Keep Learning

    📢 Missed RES2025? No worries! Stay connected with us for upcoming programs that will continue to provide valuable industry insights and expert guidance.

    Once again, THANK YOU to all our participants and speakers for making RES2025 a grand success! We look forward to seeing you at our next event.

  • Avoid Costly Mistakes: 8 Reasons to Learn Before Investing in Real Estate

    Avoid Costly Mistakes: 8 Reasons to Learn Before Investing in Real Estate

    Purchasing or investing in property is one of the most significant financial decisions a person can make. While the prospect of owning a piece of real estate can be exciting, it’s also fraught with risks and complexities. Here are eight compelling reasons why educating yourself before taking the plunge is crucial:

    1. Understanding the Market

    The property market is dynamic, influenced by factors such as economic conditions, interest rates, and government policies. Without proper knowledge, you might buy at the wrong time or in the wrong location, potentially leading to financial losses. Education helps you grasp market cycles and trends, enabling informed decisions.

    2. Avoiding Costly Mistakes

    From overpaying for a property to falling victim to scams, the risks of making costly mistakes are high for uninformed buyers. Learning about property valuation, legal processes, and common pitfalls can save you from financial heartache.

    3. Maximizing Investment Returns

    Investing in property isn’t just about buying a house or apartment; it’s about choosing assets that will appreciate in value or generate steady rental income. Understanding key metrics such as ROI (Return on Investment) and cash flow can help you identify profitable opportunities.

    4. Navigating Legal and Financial Complexities

    Property transactions involve a maze of legal and financial considerations. From understanding loan agreements to navigating tax implications and zoning laws, there’s a lot to learn. A lack of knowledge could lead to delays or even legal troubles.

    5. Building Confidence

    The more you know, the more confident you’ll feel about your decisions. Knowledge reduces fear and uncertainty, empowering you to negotiate effectively, choose wisely, and stick to your long-term goals.

    6. Identifying Red Flags

    Not all properties are created equal. Structural issues, poor location, and hidden costs can turn a dream investment into a nightmare. Learning to conduct due diligence and property inspections ensures you spot potential problems early.

    7. Accessing Better Financing Options

    Understanding how mortgages and loans work can save you thousands of dollars over the life of your investment. Learning about different financing options and how to improve your creditworthiness can lead to better interest rates and loan terms.

    8. Planning for the Future

    Property investment is a long-term commitment. Learning helps you align your investment choices with your financial goals, whether it’s building wealth, securing passive income, or preparing for retirement. Knowledge enables strategic planning that benefits you in the long run.

    Conclusion

    Investing time and effort into learning before buying or investing in property is an investment in itself. It equips you with the tools and insights needed to make smart, informed decisions that align with your financial aspirations. Remember, in the world of property, knowledge isn’t just power; it’s profit.

  • Penang LRT Construction to Begin in December 2024: Transforming Local Real Estate

    Penang LRT Construction to Begin in December 2024: Transforming Local Real Estate

    Penang’s LRT Project Set to Begin with Groundbreaking Ceremony in December: A Game-Changer for the Property Market

    Penang’s long-anticipated Light Rail Transit (LRT) project is poised to transform the state’s transport and real estate landscape, with the groundbreaking ceremony scheduled for December. The first station will be constructed at Lebuh Macallum, marking the initial phase of the 29km Mutiara Line.

    Transport Minister Anthony Loke has confirmed the project’s commencement, which aims to enhance connectivity between Penang Island and the mainland, reduce traffic congestion, and promote sustainable transport. The Mutiara Line will start at Penang Sentral on the mainland and cross the Penang Channel, with stations along key areas including Komtar, Gelugor, Sungai Dua, and the Penang International Airport, ending at Silicon Island, which will serve as the LRT’s depot.

    Impact on Penang’s Property Market

    Once completed, this LRT project will not just reshape Penang’s transport system but also revolutionize its property market. Historically, infrastructure improvements like LRT systems have had a profound effect on property values, especially in urbanized areas. This is already evident in cities like Kuala Lumpur and Singapore, where properties along transit lines have seen significant appreciation.

    Imagine if you own a property today along the LRT line—how much do you think it will appreciate in the coming years? Properties located near LRT stations are expected to see a considerable rise in demand as they become more attractive to homebuyers, investors, and businesses seeking convenient access to transportation hubs.

    Factors Driving Property Appreciation:

    1. Increased Accessibility: The LRT will dramatically improve the convenience of commuting, making areas along the route highly sought after by both residents and businesses. This increased accessibility will naturally boost property values in these locations.
    2. Attracting Investors and Buyers: Real estate near public transportation systems often attracts both local and foreign investors. Buyers are typically willing to pay a premium for properties near LRT stations, given the convenience and potential for future capital appreciation.
    3. Economic Growth and Urban Development: The LRT will likely spur the development of commercial and retail hubs along its route, bringing new job opportunities and services to surrounding areas. These factors will contribute to property appreciation, as areas with new economic activity tend to see a surge in demand for housing and commercial space.
    4. Lifestyle Appeal: Living close to an LRT line will be a selling point for both homeowners and tenants, reducing reliance on cars and making commuting more efficient. This appeal will be especially strong among young professionals and families, who prioritize convenience and connectivity.

    How Much Could Property Values Increase?

    The appreciation potential could be substantial. Based on other cities with developed transit networks, properties located near LRT stations can experience value increases ranging from 15% to as much as 50% over time, depending on location and proximity to key stops. In some areas, even land prices could surge as developers seek to build new projects capitalizing on improved infrastructure.

    For instance, properties around Penang’s commercial and business hubs like Komtar, Gelugor, and the Penang International Airport are likely to see the highest appreciation. As accessibility improves, other areas along the LRT line, such as Sungai Pinang and Bukit Jambul, could also witness significant increases in property values.

    Long-Term Outlook for Property Investors

    For those who already own property near the planned LRT route, the future looks bright. The project promises to uplift not only property prices but also rental yields, as demand for housing and commercial space near transport links will grow. For prospective buyers, now could be the ideal time to invest before prices start to reflect the full impact of the LRT’s completion.

    In summary, Penang’s LRT is not just a transport initiative—it’s a catalyst for real estate growth. As the project progresses, the property market is expected to see a ripple effect, creating opportunities for both current homeowners and future investors. The coming years could see Penang’s property landscape transformed, with areas along the LRT line becoming prime real estate hotspots.

    From the Desk of

    Miichael Yeoh

    Related Articles: https://miichaelyeoh.com/2024/05/06/penang-lrt-project-updated-news/

  •  4 Tips to start Airbnb business?

     4 Tips to start Airbnb business?

    Starting an Airbnb business can be a profitable venture if approached strategically. Airbnb offers an alternative, often more affordable, option for accommodation compared to traditional hotels. Before diving in, consider the following tips to ensure your success in the Airbnb business:

    1. Location Matters

    The location of your Airbnb property plays a significant role in its success. Here are some factors to consider:

    • Accessibility/Convenience: Choose a location that is easy to access, with good transport links.
    • Proximity to Attractions: Being near popular tourist spots, business districts, airports, and transport hubs can make your property more attractive.
    • Amenities Nearby: Guests often appreciate being close to restaurants, shopping centers, and convenience stores.
    • Neighborhood Safety: A safe, welcoming neighborhood can encourage repeat visits.

    While prime locations are desirable, properties in less popular areas can still thrive if they offer unique features or experiences.

    2. Regulations and Legalities

    Understanding the laws and regulations surrounding short-term rentals in your area is essential:

    • Local Laws: Research the local rules regarding Airbnb rentals. In some places, regulations are strict or outright ban short-term rentals.
    • Property Type: Commercial properties may be more accommodating for Airbnb purposes. Check with property management if you’re allowed to operate an Airbnb.
    • Compliance: Follow local rules to avoid legal issues and ensure the long-term success of your business.

    Staying informed about changes in local regulations is crucial for operating an Airbnb business legally.

    3. Know Your Target Market

    Identifying your target market will help guide your decisions:

    • Types of Guests: Determine whether you want to cater to tourists, business travelers, families, or other specific groups.
    • Property Setup: Tailor your property and its amenities to the needs and preferences of your target market.

    Understanding your guests’ needs will help you design a property that appeals to them, improving your chances of bookings and positive reviews.

    Sign Up for Homestay Pro online Masterclass by Miichael Yeoh

    4. Amenities and Services

    Providing desirable amenities can enhance your property’s appeal:

    • Basic Amenities: Offer essentials such as Wi-Fi, toiletries, and kitchen supplies.
    • Added Comfort: Consider including features like a swimming pool, gym, or recreation areas.
    • Pricing: Properties with more amenities can typically command higher rental rates, but be mindful of pricing relative to nearby options.

    Balancing price and amenities can make your property more attractive to potential guests, leading to more bookings.

    By keeping these tips in mind and staying attentive to trends and feedback, you can increase your chances of building a successful Airbnb business.

    From the Desk of Miichael Yeoh