KUALA LUMPUR (April 20): MIDF Research has maintained its “Neutral” rating on the property sector and said that it expects demand for property to remain slow in 2015.
In a note today, the research house said 2014 property transaction value rose 7% year-on-year (y-o-y) while volume was up 0.8% y-o-y.
“But transaction value tumbled 14.2% y-o-y and volume declined 4.5% y-o-y in 4QCY2014.
“Severe decline in 4QCY2014 was caused by 15.9% decline in loan applied to purchase property.
“Maintain Neutral with Sunway Bhd as our top pick,” it said.