The property sector is expected to remain strong, boosted by the quality of products entering the market, according to a survey conducted by PropertyGuru Malaysia.
The 2012-Q2 Malaysia Property Sentiment survey revealed that 82 percent perceive current residential property prices as expensive.
Aside from that, the survey found that 70 percent of the respondents expect property prices to increase in the next six months, down from the 72 percent surveyed in Q1 2012 and 86 percent in Q2 last year.
Moreover, 36 percent of the respondents say that developers are responsible for the increasing land prices and construction costs placed on consumers. Some 20 percent attribute buyers' mentality to the rise in prices while 10 percent see foreign competition as the main reason.
"Fuelled by liquidity in the market, banks are still willing to lend, albeit with stricter criteria and interest rates are still generally low, supported by population growth and urban migration," said John Paul Sta Maria, Country Manager at PropertyGuru.
Watch out for the full Q2-2012 Malaysia Property Sentiment Survey report in PropertyGuru's Market Research tab here.
For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visit http://www.propertyguru.com.my today.
More from PropertyGuru:
- PNB gets green light for Menara Warisan Merdeka
- DRB-Hicom to spend RM1bil to spur Proton City's growth
- IJM Land secures funding for London JV
- Kwasa acquires RRI site for township development
- IGB REIT may consider property expansion in Europe, US
- Analysts bullish on Aeon's outlook for H2-2012
- Grand Hyatt Kuala Lumpur now open
- Iskandar Malaysia to lure more industrial property investors
- New Magna Prima developments to yield RM1 billion in GDV