The rebounding of the property sector next year is expected following a more substantial national economic recovery.
(There will be gradual improvements in the property market for the first half of the coming year.)
PropertyGuru anticipates gradual improvements in the market for the first half of the coming year before it begins to pick up in the second half.
These comments were made by Sheldon Fernandez, country manager of PropertyGuru, at the Property Market Outlook 2022 webinar yesterday.
PropertyGuru’s outlook for 2022 will continue to be cautious as Malaysia migrates from a pandemic to an endemic approach but leans towards optimism due to positive economic signals including improved vaccination rates, more long-term policies by governments and the opening of international borders.
PropertyGuru believes five key trends will impact the property sector in the year ahead:
1. The revival of buyer interest and consumer sentiment is expected to gradually improve alongside greater job security.
2. An improved economic environment for the property sector is expected as businesses began to open at full capacity and colleges/universities resume according to the national recovery plan.
3. The revival of programmes needed to boost the real estate sector such as the Home Ownership Campaign (HOC), which will run until the end of this year, and which industry players hope will be extended as well as encompass the secondary market.
4. Fernandez said landscape-changing progressive policies such as the above is a step forward in addition to the RM1.5 billion channelled towards housing programmes such as Rumah Mesra Rakyat.
5. The progress of ongoing megaprojects will excite the property market and add value to the surrounding areas.
This includes public infrastructure such as the LRT 3, East Coast Rail Link (ECRL) as well as talk of the Kuala Lumpur-Singapore High Speed Rail (HSR) coming back into the fold.
This article was written by Adlene Hanna of PropertyAdvisor.my, Malaysia’s most comprehensive source of property data, property analytics and insights.
