Knight Frank Malaysia Says Property Market Improving in H2: Part 1
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Malaysia’s property market is poised to gather further momentum moving into the second half of 2019 with residential housing outpacing the cautious commercial market, Knight Frank Malaysia said.
In its latest research report, Real Estate Highlights H1 2019 issued on Tuesday, its managing director Sarkunan Subramaniam said: “Malaysia’s property market is poised to gather further momentum moving into the second half of 2019 as the market is firing various cylinders.”
The report which highlighted the property trends and outlook in key markets of Malaysia, he said in the residential segment, the extended National Home Ownership Campaign would continue stir interests amongst homebuyers while providing an opportunity for developers to clear existing stock.
He said the first half of the year also saw the launches of a few high-end condominiums/ serviced apartment projects on pockets of land in Kuala Lumpur City.
In Sabah, the hospitality industry recorded growth and breakthrough in the first half as the government focused on promoting the east coast of Sabah as a key tourism destination and with new hotel chain brands such as Hyatt Centric and AVANI Hotels and Resorts making their debut.