Stable market provides good opportunity for Malaysian home buyers

Rebecca Foster | Feb 06, 2013 | Comments 0

Half of the local respondents that took part in iProperty's research said properties in Malaysia were too highly priced

Asian property portal iProperty Group anticipates that Malaysia's residential property market will be stable in the first quarter of 2013 as investors adopt a wait-and-see attitude until after the general election, according to FMT News.

Stringent banking regulations, high selling prices and uncertainty surrounding the upcoming general election will contribute to the cautious approach of investors, which will limit speculation activity on the market and inhibit rapid price increases.

This provides a good opportunity for home owners to enter the market as prices are more likely to remain stable, according to iProperty chief executive officer, Shaun Di Gregorio.

"The property market is expected to remain stable this year, subject to the election being done and out of the way," said Di Gregorio.

Although property prices in Malaysia have grown in recent years, Di Gregorio insists they are still deemed to be good value due to the strong regional infrastructure, good hospitals and schools.

Providing the general election is held in the first half of 2013 the property market should remain stable in the second half of the year, according to Di Gregorio.

Research by iProperty showed that Malaysians have the highest annual household income compared with respondents in Indonesia, Hong Kong and Singapore.

"Half of the local respondents said property prices were too highly priced, while 16 percent answered that they could not find a suitable property and 69 percent of the respondents called for more affordable housing, as it is likely that many families are starting to feel the weight of soaring property prices," Di Gregorio added.

According to the research, respondents were split between believing the recent increase in income limit for the My First Home Scheme would be enough to assist buyers and wanting the government to take further action.

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Filed Under: Malaysia • News • News by Country

Tags: iproperty • Malaysia • malaysia general election • malaysia property market • malaysia property prices • rising property prices • stable property market

Article source: http://www.thethailandlinks.com/2013/02/07/stable-market-provides-good-opportunity-for-malaysian-home-buyers/