Every time someone asks if the market is good for buying, they are reminded that it is the product and the price that should be of concern, not the market.

In a rising market, one may be lucky because the rising tide lifts all boats. However, markets do not rise forever and when the tide recedes, we will then see who’s swimming naked…

So, if you have bought the wrong property at the wrong price, you need to be VERY LUCKY to sell at the right time. If you focus on the right product and the right price, the market will no longer be an issue.

In fact someone said that people should stop buying condominium units because there were too many in the market.

Seriously, most Malaysian professionals can only afford a high-rise. Even a condominium can be of premium price especially since most are already priced above RM500,000 these days.

Everyone knows landed property is a premium and will continue to be a premium due to its scarcity, and not feature superiority alone.

So, it’s not an easy decision buying a high-rise closer to the city centre or landed property much further away as both have similar pricing.

As for the formula of right product and right pricing, someone prominent from the developers’ side shared a similar idea.

In an article in the NST, Sarena Cheah, Sunway Bhd property development division managing director said, “If you look at the headlines, the outlook on all the markets are uncertain and a bit more volatile.

“In every market, even though there is uncertainty and it is a bit volatile, there is a segment of opportunity where we can still launch. In the end it is about the right product and right pricing.”

She added, “Last year was not that hot as well, but the majority of our launches garnered very successful take-up. In every market, there is always space to play and that is why we are very bullish on executive condominiums.

“We are going into this. We are looking at executive condos, other then goodwill, which is also a very good site. In the end it is looking for opportunities at the right price.

“So when we are buying land, we will look at it at the right price and when we launch, we will look at the right pricing.”

When times are slow, land becomes an important target for the future. One very good example? Today, real estate agents say the market is slow yet, they are closing one to two deals per month on factories/land.

Yes, this is a tip. Many know that slow markets do not last forever but good deals are not easy to find except during slow times.

By the way, this is what Cheah said in the article too, “I do feel that there are opportunities. We are looking at them. We are cautiously exploring because markets are correcting… A good time to look for landbanks is when the market is correcting.”

One property expert said 2019 may well be the bottom. The only issue is whether catalyst(s) can be found to propel the market or not.

This article first appeared in kopiandproperty.com

Charles Tan blogs at property investment site kopiandproperty. He dislikes property speculators and disagrees that renting is better than buying. He thinks it’s either property or poverty. He is presently the CEO of an auction house auctioning assets beyond just properties.