The Malaysian Institute of Estate Agents (MIEA) has debunked the notion that property values in Malaysia are moving towards half-price as was reported by a local daily with the heading, “Houses at half-price, anyone?” on 18 August 2021.
According to the news report, there were two property projects in Malaysia that offered units at a 50% discount.
However, MIEA President Chan Ai Cheng said the two projects mentioned in the publication should not be treated as a yardstick for the country’s property market since they are isolated cases, reported Bernama.
She explained that while the majority of developers in the country do offer discounts for their projects, such discounts were not as “dramatic” as reported.
“In a recent poll conducted by MIEA with real estate practitioners who are on the ground and know exactly the happenings revealed no such evidence,” she said as quoted by Bernama.
She added that developers have no plans of reviewing their selling prices given the strong demand, particularly in established areas and new well-planned townships.
“Though admittedly the growth rate over the past three years has been less than 5% due to the challenges in the property market, the key takeaway is that the Malaysian property market is resilient,” she said.
Check out these latest project reviews today! Or read our helpful Guides to learn all about the various property buying, selling and renting tips!
