According to a report by The Edge, the real estate market in Malaysia is displaying its first positive change that will potentially recover the critical market climate for the year.
Data and statistics released by NAPIC also show an increased overall transaction off 0.6% after a 3 year decline. Even then, this change is still in its infant stage for us to claim that the market has fully recovered.
Credit : Edge Prop
This is precedented by the housing policies of the local government by encouraging the purchase of property through the HOC campaign. Bank authorities have also been a contributing factor by the way of providing first home purchase schemes and acting as panel banks for multiple real estate projects.
Despite these efforts, the real estate market is still influenced by the conditions of the local and global macroeconomics. As predicted, housing policies and loan facilities are still hot issues when it comes to the real estate market.
Credit : Kosmo
Real estate developers should also strive to stabilize the markets by focusing on supplying homes that are relevant and suitable to the current demand.
The shared issue faced by the nation now are the ample amount of towering structures and residences that are unoccupied and unsaleable – due to ridiculous price tags that do not reflect the needs nor demands of the market.
Credit : The Star
Recent events have witnessed a reduction of luxury commercial properties cropping up, yet we foresee many potential challenges arising when it comes to the pricing and control of these properties later on.