Mah Sing optimistic about recovery of Malaysian real estate market on robust demand

Ferringhi 2 Residence by Mah Sing

Mah Sing Group Bhd is cautiously optimistic about the medium to long term real estate outlook, citing strong demand for properties from the country’s young population.

The impact of the epidemic has had an influence on the real estate market in Malaysia over the past two years, leading to a change in consumption habits and new challenges for real estate players, he said. Tuesday in a statement.

“The group expects the pace of recovery to accelerate, provided global and domestic economic growth is stable. The overall health of the economy is the most important element that influences the value of real estate.

“In addition, a better economic outlook is also expected in the coming months, indicated by the stronger growth of the Leading Index compared to the previous month. Likewise, a positive economic situation is forecast for the next six months as shown in the business trend statistics.

“Employment in various industries, including hospitality, airlines, tourism and businesses, may start to increase and to some extent this will help improve purchasing power in the real estate sector,” he said. he declared.

Meanwhile, Mah Sing said rental demand is expected to increase next year due to the opening of travel borders, with more foreign expats, business partners, tourists and foreign students contributing to total growth.

“Rental demand in the Klang Valley rose from -2.9% in H1 (H1) 2020 to + 2.6% in H1 2021, according to the demand analysis of iProperty’s H1 2021 portal ( residential rental market).

“Many tenants in Kuala Lumpur are looking for condominiums and serviced residences ranging in size from 1,000 square feet (square feet) to 1,200 square feet and priced from 1,500 to 2,000 RM. This can be beneficial for home buyers who intend to buy a home for investment purposes, ”he said.

Ultimately, Mah Sing said the real estate market appears to be on the rebound as Malaysia enters 2022.

“We will continue to ensure that our products are aligned with market sentiment and meet pent-up demand for affordable housing.

“The group intends to continue to leverage the strengths of its existing digital marketplace platforms to drive sales by streamlining the payment awareness process,” he added.

Source: Bernama

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