Developers confident property market will improve in H2’24: Rehda

Developers are largely still confident that the Malaysian property market will improve in the second half of the year, on the back of a more optimistic outlook for the domestic economic environment, according to Rehda Property Industry Survey for H2’23 and Market Outlook for 2024.

Some 56% of the survey respondents said they faced construction challenges in H2’23, with a little over half of them remarking that high prices of building materials were critically impacting their business operations. The Property Industry Survey recorded that respondents are neutral towards business and property industry outlooks for H1’24.

While not all projects launched are captured in this survey, he said, it provides a useful snapshot of the direction of property development in the country today. They find it particularly concerning that homes considered to be within the affordable range experience such a high number unsold when these houses are much needed by the lower income groups.

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Property sales rose between July and Dec 2023 but backlogs persist: RehdaKuala Lumpur: More real estate developers recorded better sales in the second half of last year but over 60 per cent of the properties sold in that period were old stock, the Real Estate and Housing Developers Association (Rehda) said today, a sign that the real estate market has yet to rein in excess supply.
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