The property sector may take two years to recover, contrary to earlier predictions that the market would rebound after the general election last year.
Rahim & Co research director Sulaiman Saheh said uncertainties in the global and local economic environments have weakened consumer sentiment, adding that issues such as affordability and the property overhang in the country would require time to be resolved.
“Earlier, we thought that the market would recover this year. However, looking at the reactions post-election, it might be another year or two before we can see a recovery,” he said at the 12th Malaysian Property Summit 2019 here yesterday.
Sulaiman noted that the new government would need firmer policies that can be backed by stringent implementation.
Media Title: The Star
Date: 22 Feb 2019