Property sector's recovery expected to continue in 2024 - Masteron

Masteron director Choy Kin Mann

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.