The report noted that the national demand for subsale property in 2020 fell by -1.3 per cent year-on-year . The demand for high-rise properties is down in line with prices while the demand for terrace houses remained positive at a capital growth of +2.6 per cent. — Reuters pic
On the other hand, iProperty found that housing demand in Kuala Lumpur City Centre contracted by -8.9 per cent with -11 per cent capital growth decline; similarly, demand in Georgetown contracted by -11.9 per cent with -8.7 per cent capital growth decline. The report noted that the national demand for subsale property in 2020 fell by -1.3 per cent year-on-year . The demand for high-rise properties is down in line with prices while the demand for terrace houses remained positive at a capital growth of +2.6 per cent.
“However, as people are also facing challenges in pay cuts and losing their jobs, interest in properties within the lower priced property range listings has dropped, hence there was also a drop in visits in the portal. Moving forward, he said the subsale property demand is expected to remain challenging in the first half 2021 due to the surge in Covid-19 cases, and MCO 2.0 which limits people’s movement.