Positive prospects for property sector

PETALING JAYA: MIDF Research is maintaining a “neutral” outlook but with a “positive bias” on the property industry, after Bank Negara revealed that loan applications for property purchases had rebounded by 26.6% month-on-month (m-o-m) in February.

The second month of the year incidentally also saw loan applications at the highest level in six months, which the research outfit believes could be due to recovery in buying interest following a pause in the central bank’s overnight policy rate (OPR) hike in January, as loan applications soared 40% year-on-year (y-o-y) with buying interest recovering from the subdued demand in the past few months.