MALAYSIA’S property market may recover faster than expected as the pandemic has had a minimal impact on property prices so far, said PropertyGuru International (M) Sdn Bhd.
The online property site noted that this was seen in its Property Market Index, which saw a 0.38% quarter-on-quarter (QoQ) gain in asking prices in the second half of 2020 (2H20).
The recent Valuation and Property Services Department (JPPH) data support this stand as it cited a marginal increase of 0.4% in the Malaysian House Price Index (MHPI) over the same period.
PropertyGuru Malaysia country manager Sheldon Fernandez said what was most notable about the recent industry data is that price movements were minimal relative to projections.
Media Title: The Malaysian Reserve
Date: 05 Oct 2020