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PETALING JAYA (April 17): Valuation and Property Services Department (JPPH) director Ahmad Zailan Azizuddin says the residential market has now stabilised, and should remain flat until the end of 2019, reports The Star.
The publication reports that he did not say the market has bottomed out.
“Regionally, all countries are not performing well. So it is good that the government is supporting the infrastructure sector,” he was quoted as saying.
A full-year 2018 market report will be launched at the end of this month.
Ahmad Zailan is also president of the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP).
PPC International managing director Datuk Siders Sittampalam said: “We don’t see how the market can further deteriorate. The market will sustain. It will remain at the current pace.
“The local property market cannot be looked at in isolation because it exists within the framework of the general economy, although there is a lag time,” Siders was quoted as saying.
But according to Jordan Lee Jaafar Sdn Bhd executive director Yap Kian Ann, global uncertainties meant that the current stagnant market may continue for an additional two or three years.
“Prices of residential have increased a lot over the past 10 years,” Yap was quoted as saying by the publication.
He cited examples of how terraced house prices had jumped from RM200,000 to RM700,000, an increase of 2.5 times, while salaries had not risen by the same quantum.
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