20 January 2010
Demand for residential property in Malaysia could be set to rise sharply, a new market survey has indicated.
The study, conducted by real estate website iProperty.com, found that 35.2 per cent of locals with an annual income of $90,000 would buy a property during 2010, reports Bernama.
Patrick Grove, chairman of iProperty.com, said the results suggested a busy 12 months were in store for the Malaysian real estate sector.
"Despite the 2009 economic downturn, Malaysians believe 2010 will be a good year to start investing again. Our survey shows that we will see a steady increase in property purchases," he explained.
Houses with gardens were the most popular choice of type of property among people who intend to buy, with 53.5 per cent saying they would opt for one, compared to the 44 per cent who would prefer an apartment.
A recent report by Malaysian Industrial Development Finance was also optimistic about the residential property market, noting that demand for real estate from investors remained strong.ADNFCR-1127-ID-19567126-ADNFCR
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