Sales-wise, Maybank IB said Mah Sing and SP Setia’s 2019 actual sales were within its expectations, while Sime Darby Property, Sunway and Tambun Indah achieved better-than-expected sales thanks to the National Home-ownership Campaign last year, as well as overseas projects.
PETALING JAYA: The property market is expected to remain sluggish in the first half of 2020 despite back-to-back reductions in the overnight policy rate (OPR) as sentiment determines buying decision.
Citing an internal study on the relationship between OPR, business/consumer confidence, applied and approved mortgages as well as property sales growth, Maybank Investment Bank Research (Maybank IB) said business/ consumer confidence indicators have a stronger relationship with property sales correlation than OPR.
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