Malaysia property market 'beginning to recover'

The property market in Malaysia is beginning to show signs of recovery following the global recession, it has been claimed.

Speaking to the Business Times, managing director of real estate valuation firm Khong & Jaafar Sdn Bhd Elvin Fernandez said that initiatives from developers have helped the market to avoid collapse in the first half of 2009 after it suffered for the majority of 2008.

"We believe property transactions will start to move upwards given time," he told the news source, news that may interest those considering investing in property in the country.

Mr Fernandez added that it is important that the supply of homes is regulated according to demand, as failing to do would result in the formation of housing bubbles, which would have a negative effect on the market if they were to burst.

The Global Property Guide for 2009 revealed last month that average rental incomes for real estate in Malaysia are more than nine per cent.