High property price affecting rental market

KUALA LUMPUR: The rapid rise in the price of property has caused growing concern among prospective property buyers, especially the young professionals who are just starting to make their mark in the world.

"The free market concept theory believes that the stiffer the competition for a certain product, the more likely it is for the price to come down. However, apparently, the case is not applicable to the Malaysian property market," says Asst Prof Dr Syafiee Shuid, the Head of the Centre for Built Environment (International Islamic University Malaysia).