/// West Malaysia Property News
Majority of REHDA Members Pessimistic or Neutral
on Real Estate
Neutral and Pessimistic
About the Property Industry
“It’s not as though the
bumiputera units will remain
empty.
“Eventually they do get sold.
“But because there is
no official regulation,
developers are fearful
and hold back these
units,” he said, adding that
bumiputera units did not
appreciate as much as the
non-bumiputera ones.
REHDA Headquarters
Developers are generally
expecting a challenging
market for 2014 as a
result of the cooling
measures introduced by
the Government in Budget
2014, a survey conducted by
the Real Estate and Housing
Developers’ Association
(REHDA) revealed.
The survey, which polled
150 REHDA members from
12 states across peninsular
Malaysia, revealed that 87%
of the respondents were
“pessimistic or neutral” on
the outlook for the real
estate industry for the first
half of 2014.
As for the outlook in the
second half of 2014, a total
of 75% of the respondents
were “either neutral or
pessimistic” .
REHDA president Datuk
Seri Michael Yam said the
various cooling measures
were “gaining traction” and
would have an impact on
the local property market.
“Due to the cooling
measures, developers will
scale back on their launches.
Supply is being held back
but the demand is there,”
he said at a media briefing
yesterday on REHDA’s
property industry survey for
the second half of 2013.
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According to
REHDA chairman of
communications, public
relations and publication
committee cum national
treasurer, Datuk NK Tong,
the number of project
launches also dropped in
the second half of 2013
compared with the previous
corresponding period.
“Overall cost of doing
business had also increased
in the second half of last
year,” he said, adding that
unreleased bumiputera
lots remained the number
one reason for unsold units
during the period.
“We’re hoping that during
these trying times, the
Government will look at
the bumiputera quota
issue, especially in Malacca,
where there were 852
units completed with CFO
(certificate of fitness for
occupancy) as at Dec 31,”
he said.
Yam said the quota
allocation for bumiputera
units in Malacca was at 60%.