Impian Rumah Bersama Adik-Beradik: Peluang Atau Risiko?
Membeli rumah secara berkongsi dengan adik-beradik dilihat sebagai satu langkah praktikal.
However, the overall outlook remains supported by resilient demand and steady development pipelines, according to TA Research.
“Cost pressures have begun to emerge following the sharp increase in diesel prices, with early signs already visible in building material costs,” the brokerage observed.
Even so, at the project level, the overall impact remains manageable, given limited direct exposure to diesel and the phased nature of development, it pointed out.
From an investment perspective, TA Research urged investors to take a longer-term view. “We would encourage investors to look beyond the current cost volatility, as underlying demand and development pipelines remain intact,” it said.
It maintained its “overweight” stance on the sector, pointing to earnings visibility that remains supported.
It added that current valuations, at around long-term mean price-to-book levels, do not fully reflect the sector’s strengthening earnings outlook.
TA Research named Sime Darby Property Bhd
(SimeProp) as its top pick, citing its leadership in industrial development, strong financial performance and growing recurring income base.
(SimeProp) as its top pick, citing its leadership in industrial development, strong financial performance and growing recurring income base.“Cost pressures are not new to the sector,” TA Research said, adding that developers retain flexibility through project sequencing, pricing strategies and portfolio management.
Adjustments in product mix and phased launches continue to provide a buffer, while capital discipline and selective land disposals help sustain financial stability.
It noted that developers have so far maintained execution momentum, opting to adjust timelines rather than scale back.
“Project execution remains intact, with no major changes to launch pipelines or sales targets, as developers adjust tender timing rather than scale back activity.”
TA Research noted that stronger price growth in the primary market compared with the secondary segment reflects developers’ ability to reprice across successive launches, allowing them to mitigate rising costs over time.
On the demand front, conditions remain broadly stable, though caution is emerging.
“The mid- to lower-priced segment continues to be supported by owner-occupier demand, and developers have largely kept to their launch plans,” TA Research noted.
“That said, we would not rule out buying behaviour becoming more selective, given the higher cost of living following the recent increase in fuel prices,” it added.
While subsidies continue to cushion the impact for most households, it said this could lead to longer decision-making cycles and more cautious buyer behaviour over time, with some developers also flagging early signs of tighter financing approvals.
