Is a recovery in sight?
KUALA LUMPUR (Jan 9): Sentiment on the real estate sector turned more positive in the last quarter of 2021 due to the high vaccination rate, the reopening of the economy and pent-up demand amid the Covid-19 pandemic.
There have also been new opportunities, trends such as work from home (WFH), a growing demand for logistics and industrial properties, and the increasing adoption of property technology or proptech. Due to these factors, a market recovery may be on the horizon this year, according to industry observers.
They concur that 2022 will be the start of higher economic activities and investments in the local property market, with more focus on affordable, value-for-money residential and industrial, logistic products.
The local property market, nonetheless, is still facing challenges and disruptions in 2022 such as political uncertainties, delay in construction works, the shortage of construction workers and an increase in the cost of building materials, among others.
They also note that there were no significant measures in Budget 2022 to revive the market, and that more stimulus activities, schemes and incentives should be introduced.
The industry experts share the lessons learnt and key takeaways from 2021, and their insights and predictions for this year. They discuss the prospects, opportunities and bright spots for investors and homebuyers to look forward to this year.
For more insights on what’s in store for FY2022, check out The Edge Malaysia weekly’s Jan 10 edition.
http://www.theedgemarkets.com/article/edge-weekly-city-country-recovery-sight
