Business News

Published: Wednesday April 24, 2013 MYT 12:00:00 AM
Updated: Friday April 26, 2013 MYT 12:39:57 AM

2013 outlook for property sector flattish

KUALA LUMPUR: The property market outlook for this year is flat overall with some growth opportunities in prime locations and more focus on areas near public transport lines and affordable housing.

According to real estate services provider CH William Talhar & Wong managing director Foo Gee Jen, the total transaction value for the sector will likely be lower as there will more affordable housing entering the market, although volume is unlikely to drop.

“I believe this year will be the reverse of last year when transaction value was higher because the market was focused on developing properties RM500,000 and up in 2011 and 2012,” he said.

Foo also believed there will be a range of new high density residential developments along the expanding public transport lines.

“The market for affordable houses is those who rely on public transport, (therefore) developers won't go into such housing projects unless the area is supported by infrastructure,” he said.

Tags / Keywords: News, Business, foo gee jen, ch williams talhar & wong, property market outlook 2013, Business

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