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Malaysian property market does better than the rest
Malaysian property market does better than the rest
February 24, 2009Malaysian real estate market, compared to the neighboring states, hasn’t experienced an impetuous growth during pre-crisis times, and now it is not really affected by the recession.
According to the local experts, properties in Kuala Lumpur have never been in such a sharp demand as in other Asian centers of economic growth, particularly Singapore and Hong Kong. As a result, the market of Malaysian capital didn’t suffer from the housing slump, and residential property prices have remained considerably low here.
Therefore, the current price correction is not expected to impact the market, the experts report. According to , during the last two months local real estate prices have declined by 10-15% while in the neighboring states, such as China, India, Singapore and Vietnam, the decrease has reached 20-30%.
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