Malaysian Market Continues Downward Trend

• 15 January 2018
• Local News
• 3725 Views

Following a year characterised by a steady decline in prices, the Malaysian property market will continue to reach for the bottom before eventually stabilising.

According to the PropertyGuru Outlook Report 2018 released in November, the outlook for the Malaysian market in 2018 continues to look uncertain facing as it does a number of entrenched challenges.

Prices have dropped sharply in key areas such as Kuala Lumpur, Selangor and Penang and transaction figures show relatively stagnant activity.

Despite the generally positive performance of the Malaysian economy, the majority of the population remain unable to afford to buy property in a market with a glut of luxury standard real estate. The report noted that property prices are currently at 4.4 times the annual median income of Malaysians.

This reality has seen house prices in KL in particular drop by as much as 30 percent on their asking prices.