CBRE|WTW property and facility management managing director Tan Ka Leong says market recovery will depend on local homebuyers, with opportunities for the development of affordable homes.
“I feel that they will continue to give discounts and freebies . Units will be built on a need-basis rather than on speculative buying.” The campaign, which finally ended on Dec 31, 2021, has been seen by many as an effective buffer against the adverse effects of the pandemic. “But what we have seen is that the pandemic has impacted mostly stratified properties in locations such as Kuala Lumpur, Penang and Johor Bahru.”
“However, without the HOC being extended, it could still be a blessing in disguise for large developers who have stronger brand names and marketing teams, as well as marketing budgets to differentiate their products and reduce competition from the small-scale home builders.”“Political uncertainties ahead of the general election could overshadow improving sector fundamentals and negatively affect the purchase of big-ticket items.
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