Malaysians Attitude Towards Property Market Revealed

Three quarters of Malaysians
believe that property prices in the country are too expensive and that the
government is not doing enough to maintain affordable housing in the country.
That’s according to a new survey which also found that most Malaysians expect
property prices in the country to increase in 2013.

Keep reading to learn more about
the prospects for investing in property in Malaysia this year.

76 per cent of Malaysians think property prices will rise in 2013

FMT News reports that 75 per cent
of respondents to a new survey believe that all property types in Malaysia are
too expensive. It also found that 76 per cent expect property prices to rise in
the next six months while 14 per cent believe prices will remain stable.

The survey questioned 924 people
online between November 2012 and January 2013.

The survey also found that
Malaysians welcome initiatives from the government to make property in the
country more affordable. Just over a third (67 per cent) of those questioned
believe that changes to Malaysia’s My First Home Scheme will help improve
housing affordability issue in the country while 70 percent of respondents
believed that the 2013 Budget announcement on affordable homes will also help
to provide affordable housing.

“While increases in the value of
property in Malaysia are great news for overseas investors, it is a political
hot potato,” said Nick Marr, director of Asian property specialist HomesGoFast.com “Many Malaysians believe that not enough is being done to ensure that
affordable homes are available to local residents, although this survey shows
that recent government pledges should help.

“Malaysia remains a popular
destination for overseas property buyers from Asia and further afield. This
recent survey found that over a third of Singaporeans considering buying a
property abroad would consider purchasing property in Malaysia,” he added.