KUALA LUMPUR: Malaysia’s property market is expected to be stable and is set for a gradual recovery despite cautious sentiments amid the anticipated economic headwinds in 2023, according to real estate consultancy firm, Rahim & Co International Sdn Bhd.
Malaysian property market recovery stunted, delayed further to 2022 From left: Siva, Rahim and Sulaiman displaying copies of Rahim & Co Research – Property Market Review 2020/2021.
PETALING JAYA: The Malaysian property market is expected to see a further delay in its recovery to 2022 due to the resurgence of Covid-19 cases and the reimplementation of the movement control order (MCO), according to real estate consultancy Rahim & Co International Sdn Bhd.
CEO of estate agency Siva Shanker said real estate analysts predicted last year that 2021 would see a recovery in the property market, not knowing that Covid-19 cases would rise to 4,000 levels.
“Now that it has (reached 4,000 cases) and there is another lockdown, it will affect the market as everything slows down and the ability of people to move around decreases. Because of high numbers and we’re back into the peak of the pandemic, that slated recovery of 2021 and projections for 2021 are probably going to be delayed t