Malaysia’s residential real estate prices, rents, and sales numbers will increase significantly next year and in 2021, according to a survey of 386 Malaysian real estate agents.
Juwai.com executive chairman Georg Chmiel said Malaysia is attracting companies and operations that otherwise might have gone to China.
“The lower price threshold for foreign buyer purchasing will also help absorb some of the unsold inventory that has been weighing on the market.
“While the price thresholds are only being lowered for one year, hopefully that will give foreign investors enough time to purchase,” he said.
For the market to be healthy, developers need to sell those unwanted units so they can build more projects that are suitable for local buyers.
The survey was conducted in November 2019 by Juwai IQI, one of the largest real estate groups in Southeast Asia with more than 7,000 agents.
Media Title: New Straits Times
Date: 19 Dec 2019