Malaysia's high-end market set to suffer next year says dtz

The Malaysian luxury market is starting to go soft say local agents as demand levels off and the global economic situation worsens. Buyers are also being put off by tighter credit policies at the banks, DTZ Research announced this week in its latest Property Times market report.

Looking at the Kuala Lumpur luxury market in the third quarter of this year, DTZ predicts an “increasing downside risk on prices” at the higher end of the market if conditions continue to slide.

“The residential sector experienced significant completions in the quarter and this will put pressure on rentals, especially for large prime condominium units where demand has not kept pace,” says the report.

The agency also thinks that there will be more “pressure to sell” as buyers decide to “exit their investments.” Demand for new launches will be subdued.

Source: OPP.org.uk