Property Market Going Up, Up, Up

These few years must really be good years in property development. Everyday in the Metro pullouts of the local newspapers are filled with advertisements for housing launch parties and sales promotions. Come Saturday’s paper, the number doubles. Even the Edge has a special pullout for real estate. Everyday you here about Amanputra, Amansuria, Amanseri, Damaiputra, Damansara Damai, Kota Permai, Kuch Kuch Hota Hai…

Is the economy really that good? Where are people getting all these money from? Deductively speaking, there is no supply without demand. And speaking from within the industry, I can say that most of these launches that are marketed well by experienced companies sell very well. Some sell up to 50% on the first weekend. Even without satay parties.

Well, here I am, having problems paying for my car loan and kid’s kindergarten fees (it’s a killer) every month and these people are putting down RM80,000 down payment in cash. Without even batting an eyelid.

Some people keep telling me the property market will peak in 2-3 years time and after that it going to crash one day soon. Some others say anything is a good time to buy property.

As for me, I’m still waiting for the Playstation2 market to crash, then I can buy it for RM400. With the original controllers.