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Demand for property still hot, says Symphony Life chairman
by Cals Tue 24 Sep 2013, 15:09
Published: Tuesday September 24, 2013 MYT 1:03:00 PM
Updated: Tuesday September 24, 2013 MYT 2:03:21 PM
Demand for property still hot, says Symphony Life chairman
BY INTAN FARHANA ZAINUL
SHAH ALAM: Symphony Life Bhd expects property sales to remain resilient in 2014, underpinned by factors such as investment and ownership.
Group executive chairman Tan Sri Mohamed Azman Yahya said on Tuesday that demand in the property sector was still "very strong".
"People are buying property for a lot of reasons, mainly for investment and ownership," he said after its 50th AGM and EGM.
"We do see that almost 10% of the bookings made are not converted to sales and purchase agreements. However, due to the demand, other buyers have stepped in and filled the gap," he added, pointing out that there was an increase in the number of international buyers.
"Once the MRT projects and the high-speed rail to Singapore are completed, we will see an increase in the attractiveness of property sector in the country," he opined.
He said the foreigners were mainly from Singapore, Japan and South Korea, and they were buying high-end property.
"We believe any cooling measures taken would give a positive impact for the sustainability of the property sector in a longer term," Azman said.
Updated: Tuesday September 24, 2013 MYT 2:03:21 PM
Demand for property still hot, says Symphony Life chairman
BY INTAN FARHANA ZAINUL
SHAH ALAM: Symphony Life Bhd expects property sales to remain resilient in 2014, underpinned by factors such as investment and ownership.
Group executive chairman Tan Sri Mohamed Azman Yahya said on Tuesday that demand in the property sector was still "very strong".
"People are buying property for a lot of reasons, mainly for investment and ownership," he said after its 50th AGM and EGM.
"We do see that almost 10% of the bookings made are not converted to sales and purchase agreements. However, due to the demand, other buyers have stepped in and filled the gap," he added, pointing out that there was an increase in the number of international buyers.
"Once the MRT projects and the high-speed rail to Singapore are completed, we will see an increase in the attractiveness of property sector in the country," he opined.
He said the foreigners were mainly from Singapore, Japan and South Korea, and they were buying high-end property.
"We believe any cooling measures taken would give a positive impact for the sustainability of the property sector in a longer term," Azman said.
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