Axis REIT Managers Bhd head of investments Siva Shanker expects the property market to start improving only between 2018 and 2019.
“Although things are looking bad now, it won’t be like that forever. Everything is a cycle. 2017 will see the market finding its level and the knee jerk reaction will subside,” said Siva at a seminar entitled ‘The Malaysian Property Market: Opportunities amidst Uncertainties’.
“2018/2019 will see the market beginning to level out and start its upward trend again while 2020/2021 will see the market peaking again,” he added.
Notably, the commercial office space market is expected to remain lacklustre in 2016 and 2017.
“With the additional office space expected to complete by end of 2016 on top of the still available space in the Klang Valley, the general market will continue to be a tenants’ market,” said Siva, who also served as former president of the Malaysian Institute of Estate Agents.
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email firstname.lastname@example.org