Property market to consolidate further

SERC seems to be the most bullish to date, with its executive director Lee Heng Guie(pic) saying Malaysia

PETALING JAYA: The Malaysian property market is expected to continue consolidating this year, in light of the challenging economic environment, said Socio-Economic Research Centre executive director Lee Heng Guie.

“There is still some overhang in certain segments and oversupply in the commercial sector space,” he said at the Economic & business outlook conference 2017, organised by Rehda Institute today.

Lee said the local property sector will continue its flattish trend since 2013.

Commenting on the Malaysian economy, Lee said the growth outlooked showed a cautiously positive trend of 4.3% for this year.

“The ongoing implementation of public transportation-related infrastructure projects and continued investments in the manufacturing and service sector will help promote private investments,” he said.