Better property outlook due to positive factors

HLIB Research said IOI Properties Group Bhd is well positioned to capture the country’s economic recovery in terms of demand for houses.

PETALING JAYA: Analysts have turned positive on the property sector due to a number of factors including the pause on interest rate hikes by Bank Negara, easing of foreign labour shortage, reopening of China’s borders and stronger ringgit.

Hong Leong Investment Bank (HLIB) Research, which has an “overweight” call on the property sector, noted that the Bursa Malaysia Property Index had outperformed the FBM KLCI year-to-date with a 7.3% gain compared with the 0.3% slide recorded by the benchmark index.