Enquiries by potential homebuyers drop 10% in Q2 amid price resistance, reveals PropertyGuru market report
PETALING JAYA: In the face of a challenging economic backdrop, potential homebuyers continue to resist higher listing prices, according to PropertyGuru Malaysia’s Property Market Report for the 2nd quarter .
PropertyGuru Malaysia country manager Sheldon Fernandez said the data continued to show a decrease in property demand, with Q2 2023 being the fourth consecutive quarter where there exists a visible gap between property demand and pricing. “As property values in urban centres continue to rise, homebuyers are shifting their focus to more affordable options in suburban locations.
Future projections suggest the Johor real estate market might experience further growth, given the anticipated operation of the Rail Transit System line in 2026 and the potential revitalisation of the Kuala Lumpur–Singapore High-Speed Rail .
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