The gloomy property market is expected to improve as a result of rising confidence among consumers with new policy measures, following the recent change in Malaysia’s government.
With Pakatan Harapan winning the recent 14th General Election and Tun Dr Mahathir Mohamad appointed as the seventh prime minister, property experts foresee sentiments in the industry will likely improve gradually.
However, buyers will still be cautious with a wait-and-see attitude until the country’s economy steadily recovers.
CBRE-WTW MD Foo Gee Jen said there will be a much stronger political will for the federal and state governments to work hand in hand and rectify the fundamentals in various states and areas, including the Klang Valley, Kuala Lumpur (KL), Selangor, Johor and Penang.
“Land price has always been the issue for housing development and land matters which are under the state governments’ controls. States like KL, Selangor, Johor and Penang are facing crucial affordable housing issues.
Media Title: The Malaysian Reserve
Date: 14 May 2018