PropertyGuru sees strong real estate interest in Malaysia but effective demand lacking

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PropertyGuru sees strong real estate interest in Malaysia but effective demand lacking
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KUALA LUMPUR, Sept 20 ― Interest in property purchases remains high in Malaysia despite the higher cost of living, financing constraints and affordability, PropertyGuru...

KUALA LUMPUR, Sept 20 ― Interest in property purchases remains high in Malaysia despite the higher cost of living, financing constraints and affordability, PropertyGuru Malaysia said.

Fernandez said it is essential to plan and execute affordable housing initiatives strategically to suit today’s lifestyle, particularly in urban areas as there are also growing concerns about sustainable living environment conditions. This shift highlights changing consumer preferences where practicality and cost savings are prioritised.

“We are hoping for some good news from the progressive wage policy that will be tabled in Budget 2024. It may be the support Malaysians need to bring them closer to homeownership,” said Fernandez. With the OPR rate at three per cent and inflation easing to two per cent, he said it is timely for the government to conduct a review of current and proposed housing schemes and initiatives.

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