Property overhang: No need for govt to step in

Standard chartered's cheif economist, Asean and South Asia Edward Lee ( left) and Head of ASA Fx Research at Standard Chartered Divya Devesh ( right) during the media briefing on Global Research. - NORAFIFI EHSAN/The Star-

KUALA LUMPUR: There is no need for the government to step in to help resolve the property overhang caused by high inventory levels for the time being, according to Standard Chartered Bank Research (Stanchart Research).

“At the moment, no (need to step in) since we are not seeing a macro risk there. And if anything, the previous measures have been to address the high household leverage. But since then while household leverage remains high, the direction has been correct. So, I do not think there is any macro risk coming from this property inventory overhang,” said the research house’s Asean and South Asia chief economist Edward Lee at a press briefing yesterday.