REHDA: Property market outlook positive until 1H2014

KUALA LUMPUR (Sept 2): The results of the latest survey conducted by the Real Estate and Housing Developers' Association (REHDA) showed that outlook for the property market is positive for the second half of the year. 

This optimistic outlook is expected to continue on into the first half of 2014. 

However, given recent local and global developments, REHDA president Datuk Seri Michael Yam said that within Malaysia, buyers could be adopting a "wait and see" approach to asses the global situation as well as the outcome of Budget 2014. 

Based on a sample size of 150 association members, the survey findings also show that in general, the property market continues to remain healthy, driven mainly by local buyers. 

Some 95% of the respondents said its buyers were first time buyers, mainly for their own occupation. 

In terms of future launches, the respondents said that the number of launches had improved to 52% compared with 46% y-o-y. For the second half off 2013, the number of launches is expected to increase to 63%, or 18,181 units. 

Meanwhile, the market continued to be challenged by issues such as labour shortage, inconsistent supply, high labour costs and the increasing cost of building materials. 

During the period under review, more than half the respondents said they had experience a 5% - 10% rise in the cost of doing business.

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