KUALA LUMPUR: The property market has a more than sufficient supply of affordable housing, but what is insufficient are the “right housing products” to cater to the high demand for affordable homes, says real estate agency Zerin Properties managing director and CEO Previndran Singhe. However, Previndran also notes that many in their mid-30s and 40s are looking at residential properties in the sub-urban areas as their retirement homes. In Zerin’s market outlook presentation, Previndran also points out that the property market has already stabilised. Data from the Valuation and Property Services Department shows that the property market saw 313,710 transactions in 2018, up 0.6% y-o-y. Value of residential properties transacted rose 0.4% y-o-y to RM68.75 billion, accounting for 49% of total value last year.

Source: The Edge Markets May 20, 2019 04:41 UTC