KUALA LUMPUR: The Malaysian property market is set to gradually improve in the years ahead through to 2020, said the Malaysian Institute of Estate Agents (MIEA) here today.
President Eric Lim Chin Heng said the property market might have bottomed out last year with transaction volumes hitting the lowest point since 2012 at 311,824.
In a statement here, he noted real estate investors, who had been playing an important part in the property market's growth were now looking forward to returning to it.
He envisaged that the market would continue experiencing “confidence gaining growth” as fundamentals improve under the new government and anticipated the implementation of new policies by it to boost the property market.
“Two major events include plans to introduce and manage the supply of affordable housing and the forthcoming budget which will be a test for the new government in tackling the woes of the property industry,” Lim said.
To help spur further confidence building, MIEA will be focusing the content of their Continuous Development Programmes (CDP) towards empowering the 18,000 active members of the real estate fraternity with new knowledge and to improve skills with an emphasis on professionalism and integrity.
The CDP is accredited by the Board of Valuers, Appraisers, Estate Agents and Property Managers.
“We want to prepare and provide opportunities to our Real Estate Negotiators to be able to power through a challenging market and are prepared to reap the benefits when it is expected to start picking up again in 2019,” Lim said. - Bernama
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