Malaysia house prices expected to climb

Posted by: Sharm Enterprise | Posted on: January 26th, 2012 | 0 Comments

Developers in Malaysia believe house prices in the nation are likely to increase over the coming 12 months, new research has revealed.

A survey conducted by the Real Estate Housing Developers’ Association Malaysia (REHDA) found that around 74 per cent of respondents anticipate a rise in the cost of residential property during 2012.

Of those, 36 per cent are predicting a ten to 20 per cent jump, while 31 per cent believe the hike will be under ten per cent.  The remaining seven per cent thought prices could rise by more than one-fifth.

The increasing cost of purchasing a property in Malaysia has been attributed to the higher price of labour and materials.

As a result, optimism about the state of the country’s real estate sector is lower than it was six months ago, the REHDA study found.

Speaking at the launch of the research, president of the organisation Datuk Seri Michael Yam said: “Our members are more cautious towards market conditions due to more compliance requirements imposed on the housing industry, global economic uncertainty and inadequate information and data with regards to on-stream demand and supply.”

In March, the REHDA will host the Malaysia Property Exhibition, which is expected to lead to real estate sales of between 50 million and 100 million Malaysian ringgits (£10.4 million and £20.8 million), Bernama News Agency reported.

Article source: http://www.propertyshowrooms.com/malaysia/property/news/malaysia-house-prices-expected-climb_311882.html

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