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Survey: M’sia’s property outlook bleak

KUALA LUMPUR, 6 March 2009: A survey by thinkproperty.my shows Malaysia’s negative property outlook has deteriorated further, currently at 51%, the lowest since the survey began in May 2008.

“Clearly we saw a sharp drop in the index in February.

“With unemployment rising and Malaysia’s trading partners suffering from the economic slowdown, we believe the index will possibly fall further before it rises again,” said Think Media Sdn Bhd chief executive officer Asim Qureshi.

The survey also showed that the popularity of fixed deposits has fallen to a 10-month low at 27%.

“Most investors will look for alternative investment opportunities to fixed deposits given that fixed deposits yield around two to 2.5%,” he said in a statement.

The survey however showed there has been a continued shift in preference to landed property.

A total of 30% of the respondents favoured link houses in February while the retail and office sectors were less favoured with 8% compared to 21% in June 2008.

Some 1,500 participants responded to the survey which described the current status of the property market and revealed some interesting trends.

Thinkproperty.my is a property-related content website owned by Think Media Sdn Bhd. — Bernama

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