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Property prices, rentals take dip

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  • Property prices, rentals take dip

    Industrial property market to be most vulnerable this year, says D-G

    KUALA LUMPUR: The Valuation and Property Services Department is already seeing signs of a decline in selling prices and rental yields within the Malaysian property market in the first quarter of 2009.

    Director-general Datuk Abdullah Thalith Md Thani attributed the reasons for the price and rental dip to the global economic downturn and the poor market sentiment locally.

    “Given the choice, I want conditions to improve tomorrow. But I don’t want to speculate when it (the economy) will recover,” he said at the launch of the 2008 Property Market Report yesterday.

    He said he expected both the (RM7bil and RM60bil) stimulus packages and the on-going projects under the Ninth Malaysia Plan to help cushion the effects of the global financial crisis.

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    Jenny
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