Monday, 14 Dec 2020 03:40 PM MYTKUALA LUMPUR, Dec 14 — Amid adversities, the property market is poised for a rebound in 2021 with the overall sector expected to record growth, albeit at a cautious pace, said PropertyGuru Malaysia, the country’s largest property website.
“Despite cautious consumer behaviour dictated by pandemic fears, effective policies by the government and innovative approaches by market players have also helped to cushion the blow,” he told Bernama. It said Q3 2020, the volume of transactions and yearly change recorded an improvement with 89,245 units from 83,085 units in Q3 2019, with 7.4 per cent from 5.5 per cent in the same quarter last year, respectively.
These were expanded via the short-term National Economic Recovery Plan worth RM35 billion, which include stimulus measures aimed at addressing the overbuilt property sector. In a climate of low-interest rate regime, he said low property prices as well as appropriate incentives by the government had buoyed demand for property especially those with good financial reserves.