“The bottoming effect can be seen. Malaysia’s residential absorption rate is now at a 14-year low while the major states are seeing nine to 10-year lows,” said Kenanga Investment Bank Bhd head of equity research Sarah Lim.
Representatives from the property development industry took part in the tour of Prince Court Medical Center, Kuala Lumpur and AraGreens Residences in Ara Damansara, Selangor.
International real estate services provider Jones Lang LaSalle (JLL) foresees more foreign investors putting their money in Malaysian real estate in the next 6 to 12 months.
Some 45% of millennials continue to purchase properties across Asia to generate rental income for their retirement, according to the “Manulife Investor Sentiment Index” report.
Hua Yang said it has introduced Erica and Freesia terraced homes in phase 1 of the 777-acre BUSI township.
Australia-based consumer electrical products retailer will take up 43,000 sq ft of retail space spread over two levels in the mall.
Yong Tai Bhd is taking up a 70% stake in land holding company Iconic Paragon Sdn Bhd for a proposed development on two leasehold plots with a cumulative size of 1.08-acre in Bukit Bintang, Kuala Lumpur.
AlloyMtd Group’s One Crown Place, a mixed development on the edge of London city, is set to be launched in Asia next month.
More than 60% of potential 1Malaysia Housing Programme or PR1MA homebuyers had to give up their booked units due to problems with end-financing.
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