Malaysia property outlook worsens: Survey

A survey by thinkproperty.my shows Malaysia's negative property outlook has deteriorated further, now at 51 per cent, the lowest since the survey began in May 2008.

"Clearly we saw a sharp drop in the index in February.

"With unemployment rising and Malaysia's trading partners suffering from the economic slowdown, we believe the index will possibly fall further before it rises again," said Think Media Sdn Bhd chief executive officer Asim Qureshi.

The survey also showed the popularity of fixed deposits has fallen to a 10-month low at 27 per cent.
"Most investors will look for alternative investment opportunities to fixed deposits given that fixed deposits yield around two to 2.5 per cent," he said in a statement.

[The survey, however, showed there has been a continued shift in preference to landed property.

Thirty per cent of the respondents favoured link houses in February while the retail and office sectors were less favoured with eight per cent compared to 21per cent in June 2008.

Some 1,500 participants responded to the survey which provided the current status of the property market and revealed some interesting trends.

Thinkproperty.my is a property related content website owned by Think MediaSdn Bhd.

By Bernama