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Alliance-DBS Research: Resolving oversupply still key to spur the property market

PETALING JAYA (Nov 6): The property measures announced under Budget 2021 are within expectations, according to Alliance-DBS Research senior analyst Quah He Wei.

"This is because most of the stimulus measures have been unveiled under the Pelan Jana Semula Ekonomi Negara (Penjana)," Quah told EdgeProp.my over WhatsApp today after the tabling of Budget 2021 by Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz.

Read other Budget 2021 news on EdgeProp.my/Budget2021  

However, he noted that resolving the supply glut issue is still the key factor in improving the present sluggish property market.

"And this requires a concerted collaboration with all stakeholders, which is not an easy task," Quah told EdgeProp.my.

Additionally, he said that Rent-to-Own (RTO) schemes may help to a certain extent, but still, it would not be sufficient to solve the issue of oversupply.

This is in reference to the Budget 2021 measure in which the government will collaborate with selected financial institutions to provide a Rent-to-Own scheme.

The scheme will be implemented until 2022 involving 5,000 PR1MA Corp Malaysia (PR1MA) houses with a total value of more than RM1 billion and reserved for first-time home buyers only.

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