Secondary Malaysia property market 'may slow'
By James Roberts

Secondary Malaysia property market 'may slow'

There may be a decline in the level of interest in Malaysian properties in secondary locations over the coming months.

Speaking to StarBiz, deputy president of the Malaysian Institute of Estate Agents Siva Shanker explained an oversupply of homes in the RM150,000 (£30,231) to RM300,000 price bracket could lead to a slowdown in the market.

He stated many people purchased homes speculatively but are now trying to sell them to make a profit.

"When everyone tries to flip it (sell it for a higher price) at the same time, that's when you create an oversupply situation," Mr Siva noted.

Chief executive officer of iProperty Group Shaun Di Gregorio recently stated one of the biggest issues within Malaysia's real estate sector at present is affordability.

He told the Bernama news agency that many people are expecting the government to take action to curb speculation and ensure house prices remain at a manageable level.
 
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