{"id":28405,"date":"2017-02-17T13:32:30","date_gmt":"2017-02-17T05:32:30","guid":{"rendered":"http:\/\/www.imoney.my\/articles\/?p=28405"},"modified":"2024-02-02T14:28:52","modified_gmt":"2024-02-02T06:28:52","slug":"property-market-remain-subdued","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/property-market-remain-subdued","title":{"rendered":"Property Market To Remain Subdued, Says Research Firm"},"content":{"rendered":"<p>It\u2019s more bad news for the local property market. After seeing a decrease in sales last year, the overall sentiment is expected to be subdued this year, says the research arm of property consulting firm Rahim &amp; Co.<\/p>\n<p>\u201cThe property market is expected to remain subdued for a period of 12 to 18 months,\u201d the firm told a news conference here on in its summary of findings on the Property Market Review for 2016 and 2017.<\/p>\n<p>The firm added that it will be a buyers\u2019 market as there will be a period of adjustment and price consolidation to close the gap between prices demanded by sellers and those looking to buy.<\/p>\n<p>\u201cAffordable housing will continue to be popular this year where the people are facing rising cost of living especially for young families,\u201d it said.<\/p>\n<p>Just before the tabling of the Budget last year, many pressed for more affordable housing projects, especially under the PR1MA scheme.<\/p>\n<p>The government responded with a <a href=\"https:\/\/www.imoney.my\/articles\/pr1ma-step-up-end-financing-home-malaysia\" target=\"_blank\" rel=\"dofollow noopener\">\u201cstepped-up\u201d end-financing scheme<\/a> that grants homebuyers easier financing with a total loan between 90% to 110%.<\/p>\n<p>It helps buyers ease their monthly instalments for the first few years and rejection rates are drastically reduced, meaning opportunities to get a higher loan. The scheme is effective January 1 this year.<\/p>\n<p>The introduction of the scheme comes amid rising household debt. Malaysia clocks one of the highest in the region, at 89.1% or RM1.03 trillion, leading Bank Negara Malaysia (BNM) to implement stricter lending measures.<\/p>\n<p>But the central bank has denied that such tightening is the reason many Malaysians can\u2019t land their first home. It cited the lack of affordable housing instead.<\/p>\n<p><a href=\"http:\/\/www.themalaymailonline.com\/malaysia\/article\/buyers-to-dictate-malaysian-properties-in-2017-firm-predicts\" target=\"_blank\" rel=\"dofollow noopener\"><em>[Source]<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>But we did see this coming. <\/p>\n","protected":false},"author":29,"featured_media":26981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[216,21],"tags":[],"class_list":["post-28405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates","category-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Research Firm: Buyers To Dictate Property Market In 2017<\/title>\n<meta name=\"description\" content=\"On the back of soaring house prices, the property market is set to be subdued for the rest of the year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/property-market-remain-subdued\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property Market To Remain Subdued, Says Research Firm\" \/>\n<meta property=\"og:description\" content=\"On the back of soaring house prices, the property market is set to be subdued for the rest of the year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/property-market-remain-subdued\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-17T05:32:30+00:00\" \/>\n<meta property=\"article:modified_time\" 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