Property Market Expected to Recover in Second Half of The Year

KUALA LUMPUR: The Malaysian Institute of Estate Agents (MIEA) expects the property market to register a recovery in the second half of the year.

MIEA president Eric Lim said buyers had been sidelined following the May 9 polls, and were waiting for greater clarity from the government on housing policies.

“As the dust settles, we expect the property market to stage a recovery in the second half of 2019,” he said at a media briefing after officiating the Malaysian Annual Real Estate Convention 2019 here today.

He added that the government had been putting too much emphasis on the primary market given data from the National Property Information Centre showing that the secondary or sub-sale segment contributes 80% of property sales.

He suggested, among others, the creation of a fund to finance young buyers who have trouble raising a deposit to participate in the secondary market.

Source/ Credit to:

March 15, 2019 1:54 PM – Free Malaysia Today