KUALA LUMPUR (Nov 29): Despite global outlook uncertainties, Malaysia and neighbouring Thailand and Indonesia are showing increasing housing demand, PropertyGuru Group’s real estate intelligence said. Its head of intelligence Dr Lee Nai Jia said in a statement that in the second quarter of this year (2Q2022), residential markets in Malaysia, Singapore, Indonesia, and Vietnam logged an increase in prices, even though sales in Singapore and Vietnam were slowing. “There has been a general rebound in Malaysia, Singapore, Indonesia, Thailand and Vietnam, following the reopening of borders and more relaxed measures associated with curbing Covid-19. “Factors supporting growth of the Malaysian market are there, with Malaysia and Vietnam both recording the highest GDP increases of about 8.9% (Malaysia) and 7.7% (Vietnam) year-on-year in 2Q2022,” said Lee. “We project that the residential markets in Malaysia and Indonesia will transit to the quadrant where prices appreciate, but sales volumes decrease in the first half of 2023,” he said.

Source: The Edge Markets November 29, 2022 20:36 UTC