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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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