House prices in Malaysia are 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, this is based on a recent property survey by Juwai IQI.

The firm’s group co-founder and chief executive officer Kashif Ansari said the outlook of real estate agents across Malaysia continues to improve.

“A year ago, agents forecasted significant declines in both home prices and rents. Today, they expect modest growth in prices and rents over the next four quarters. Over the horizon, agents see much more substantial growth and the exciting prospects of a revitalised market,” he said based on the survey released today.

Some 400 agents across Malaysia had participated in the survey.

According to the findings, property rental is expected to be flat over the coming 12 months with just about one per cent growth.

Kashif expects a rebound next year and there will be eight per cent growth in asking rental from the third quarter.

Read more: NST

Source: NST