Weekly Industry News

Property market may have finally bottomed out

Weekly Industry News

THE property market may have finally “bottomed out” and is currently clawing its way up for a slow recovery with various domestic and foreign events amid uncertainties and challenges, as observed by property analysts.

Knight Frank Malaysia Sdn Bhd MD Sarkunan Subramaniam concurred the performance of the residential sub sector mirrors the national trend.

“The volume and value of residential transactions have also continued to improve since the first quarter of 2017 (1Q17). These positive signs appear to indicate that the market may have bottomed out and is in a slow recovery mode,” he said in an email reply to a query by The Malaysian Reserve (TMR).

Sarkunan added that for the review period from 1Q17 to 1Q19, it is worth noting that the least active period was in 2Q18 where there were only 70,385 transactions with the corresponding value of RM32.6 billion.

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Date: 11 June 2019

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