Developers To Focus On Houses Between RM400k & RM500k

Developers To Focus On Houses Between RM400k & RM500k

Property developers will be focusing on affordable housing between RM400,000 and RM500,000, said consultancy firm CBRE-WTW.

In its 2017 forecast, it said the overall property market was expected to remain flat, spurring developers to venture further into affordable housing developments.

“And if the government pushes hard enough [for affordable housing schemes], the transaction volume for residential properties will improve slightly where genuine demand will lead the market,” said Foo Gee Jen, the managing director of CBRE-WTW, at a press conference after the launch of the firm’s Asia Pacific Real Estate Market Outlook 2017: Malaysia.

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“Total transaction value, however, will be lower. And when you factor in the retail and industrial sector, overall growth will still be flat,” he added.

Among the projects expected to affect the property market in a positive include: the Kuala Lumpur-Singapore High Speed Rail, the Light Rail Transit 3, and the Damansara Shah Alam Expressway.

“[Infrastructure development] will open up many other development activities and areas,” said Foo.

On residential hotspots, he listed Nilai, Semenyih, Kajang, Putrajaya, Cyberjaya, Rawang, Ijok, Kuang, Sungai Buloh and Kuala Selangor.

[Source]

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