PETALING JAYA: The local real estate industry has seen encouraging signs of recovery in the second half of 2023, and the positive trend is expected to continue in 2024, thanks to Bank Negara Malaysia's (BNM) decision to maintain the Overnight Policy Rate (OPR) at three per cent, said property developer Masteron Sdn Bhd.
Masteron director Choy Kin Mann said the first half of 2023 presented a mixed landscape of challenges and opportunities for the property industry, but the central bank's decision has provided a positive shift to the industry, as the strategic move is aligned with current inflation and growth prospects.
''This stability is advantageous news for homebuyers, signifying an optimal time for real estate investments," he said during the launching ceremony of the company's Astra @ Aurora Residence project here.
Located near Puchong Prima Light Rapid Transit (LRT) station, Astra @ Aurora Residence is a 62.73 hectares integrated township with a gross development value (GDV) of RM380 million.
In a statement today, Masteron said the Astra @ Aurora Residence service apartments are affordably priced, aiming to cater for first-time home buyers, young and urban dwellers, and families looking for a new chapter in sustainable, strategic lakeside living.
It said the units are priced from RM310,000 to RM788,000, with built-up space ranging from 570 sq ft to 1,238 sq ft. - Bernama