Property market outlook seen remaining positive

Property prices in Malaysia are relatively cheaper compared to those in the region, says Zerin Properties chief executive officer

THE outlook for property market this year remains positive due to strong domestic consumption, high market liquidity and loans being reasonably cheaper, according to Zerin Properties Sdn Bhd’s chief executive officer Previndran Singhe.

He said another factor was the Employees Provident Fund (EPF) withdrawals for housing loans, which helped to boost the property market.

“Our property prices are relatively cheaper compared to those in the region,” Previndran said.

“Last year was a sterling year for Malaysia with a total of RM77.14 billion in transactions,” he said at the sidelines of the Edge Investment Forum on Real Estate 2008 here today.

Earlier, Previndran presented a paper on “Outlook of the Malaysian Property Market — Time to Exit”.

He said foreign buying is still on the increase, particularly from the Middle East, the Indian subcontinent, South Korea, Japan and China.

According to him, the Klang Valley, Johor and Penang remain the top growth areas in the country.

Sabah is also in the list, he said.

Meanwhile, Ho Chin Soon Research Sdn Bhd’s director Ho Chin Soon said the Klang Valley is expected to remain the country’s top growth region for many years in line with global urbanisation trends.

“The Golden Triangle and Mont’ Kiara are the hotspots in the Klang Valley,” he said. — Bernama