More Malaysians are expected to buy houses for the first time next year, leading to a slight improvement in the performance of the property sector.
The property market has seen a rebound since the end of 2018 after a decline since 2012, Malaysian Institute of Estate Agents chief executive officer Soma Sundram Krishnasamy said yesterday. “With the Home Ownership Campaign initiated by the government, we are of the view that the sector is on a recovery mode but at a slower pace.”
It found that 64.7% of 386 local real estate agents who were surveyed believed that first-time buyers would increase the number of transactions in the coming year.
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