KUALA LUMPUR: Malaysia unlikely to face property bubble as the various pre-emptive measures already in to stabilise the market, including measures implemented by Bank Negara Malaysia (BNM).
Rahim & Co's Strategic Planning and Research Director Sulaiman Akhmady Mohd Saheh said the current property bubble are irrelevant and there will be no serious concern of such kind in the years to come.
"The measures taken by BNM to stabilize the local property market among others include to abolish the Developers Benefits Under Liquidity Scheme (DIBS) and to tighten the conditions for successful financing, to ensure the property market continues to be resilience," he said after the Rahim & Co 2018 Prospect Outlook on Real Estate Market Malaysia here today.
Moving forward, Sulaiman however stressed that 2018 will be a challenging year for the Malaysian property market, as many would expect the upcoming General Elections 2018 (GE13) would give the boosting momentum and a better direction for the country's property sector.
He said, despite the challenging outlook, the overall real estate market is expected to be more stable this year than 2017.
Further, Sulaiman said GE13 results are expected to provide a stronger direction for the country's real estate market.
"There are no sharp decline in the property market this time and consumer sentiment are seen to change.
"Now, the 'wait and see' sentiment is not focused on who will win in GE14, but rather to decide to buy a property or otherwise," he said.
Earlier, in the briefing, Malaysia's largest property consultancy firm said, industrial properties are expected to be the focus in the future, in line with the growing wave of the Industry Revolution 4.0.
He said the digital economy increasingly creating new demands for consumers around the world.
"With the rapid growth of e-commerce as well as the establishment of the Digital Free Trade Zone (DFTZ), industry-type properties are expected to be the focus for most investors in the future, especially for logistics and warehousing purposes," he said.