FREE MALAYSIA TODAY. 16TH DECEMBER: Potential house buyers are adopting a wait-and-see attitude in light of uncertain conditions brought about by the pandemic.
A survey conducted by the Real Estate & Housing Developers’ Association (Rehda) has found that the recent lockdowns had impacted house buyers’ sentiments in purchasing properties, concluding that they have become “less optimistic” about the market.
“House buyers are waiting for more certainty, in terms of improved economic trajectory and growth in 2022, before deciding to buy,” Rehda deputy president Tong Nguen Khoong said.
“Another reason could be the rising prices of products globally, which not only affect housing prices but also raw materials for the construction industry, among others.
“To combat this, Rehda hopes the government will increase people’s income levels and provide more housing schemes for different communities.”
Tong also urged the government to extend the home ownership campaign to allow prospective buyers affected by the pandemic to purchase a home when their financial status improves over time.
Meanwhile, Rehda president Soam Heng Choon said the uncertainty among buyers could be due to Malaysia’s path to economic recovery.
“We have yet to see whether economic growth will be back to pre-pandemic levels in 2022,” he said.