Luxury condo market likely to improve

Axis REIT Managers head of investments and MIEA's immediate past-president Siva Shanker(extreme right) said the luxury condominium sector will improve over the near term. (File pic shows Shanker and MRCB's Pauline Tan (left), Penang Town, Housing and Country Planning Committee chairman Jagdeep Singh Deo(red), organising chairman Michael Geh (second right) and MIEA president Erick Y.T.Kho at a property event in Sept last year. - The Star)

PETALING JAYA: The Klang Valley’s luxury condominium segment is expected to see improvement by the middle of next year on the back of better economic fundamentals and closer demand-supply balance.

CBRE|WTW managing director Foo Gee Jen said the Malaysian economy was still on a steady growth trajectory, which bode well for the local property sector – especially the luxury condominium segment.