Property buyers cautious

File picture shows people visiting a property expo in Penang. More than RM124bil worth of property was transacted during the first nine months of 2014, up 15.8 compared with the same period in the previous year.

KUALA LUMPUR: There is growing evidence of softening demand for residential property priced at RM1mil and above, as buyers turn cautious amid a rising glut in the higher end of the market.

But an expanding working population in growing cities around the country will keep demand in the affordable housing segment steady in 2015, according to speakers at the Property Market Outlook for 2015 seminar.