House prices in Malaysia is expected to climb three per cent over the next 12 months and will continue to surge by 12 per cent in the following 12 months on improved outlook.

In terms of rental market, although rent would show just one per cent growth over the coming 12 months, it is expected to bounce up to eight per cent after the third quarter of 2022 (Q3 2022), real estate technology group Juwai IQI said in its latest property survey released today.

“The outlook for Malaysia’s residential real estate market is improving.

“As we go about reopening and putting the pandemic behind us, we expect to see an increase in transaction activities and prices later this year,” said group co-founder and chief executive officer, Kashif Ansari.

“First-time buyers are benefitting from the government’s stimulus policies, as they have increased savings and a stronger motivation to purchase their own home because of the pandemic,” he said.

He added that many people in these groups spent less on travel, entertainment and other living expenses since the pandemic began, hence, the accumulated savings had helped them to purchase their first homes.

Read more: Bernama

Source: Bernama