High-end properties will continue suffering next year 2019 as the market readjusts itself from the excessive glut and finds a balance equilibrium.
The oversupply plaguing the high-end sector will continue to weigh on house prices in that bracket due to tepid demands as buyers shift to affordable homes.
Institute for Democracy and Economic Affairs senior fellow Dr Carmelo Ferlito said the readjustment is already happening in the property market and the market will undergo a complex mechanism of self-discovery next year.
“Developers have realised there is an unmet demand for low-middle price properties and several announcements were made about future investments in such direction. Most probably we are still going to observe difficulties in the high-end segment.
Media Title: The Malaysian Reserve
Date: 24 Dec 2018