International real estate technology group Juwai IQI says the Malaysian property sector will reduce supply enough to limit future price declines. – The Malaysian Insight file pic, August 23, 2022.
“As agents, we still see sufficient activity and buyer demand to keep us busy. We have more concern about supply. The pipeline of new supply is shrinking,” its head of bumiputera segment Muhazrol Muhamad said in a statement today. “Prices last quarter fell by 2.2% but we believe the shrinking pipeline will put a floor under future price falls.”
Muhazrol said dwelling completions are dropping quickly—in the first quarter 2022, completion plummeted 47% versus the fourth quarter of 2021, from 25,074 to 13,284.
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