February 01, 2023
Malaysia is renowned for its stable and attractive property market, having remained resilient to the global downturn in the recent past. It has a high population density and a strong economy which continues to grow year on year. This has led to considerable interest in Malaysian property, especially given it is one of the most affordable markets in Asia.
However, it has been as a result of China's economic slowdown and interest rates rising. The government has been feeling an ever-growing pressure to do more with less, and the increased public scrutiny is only going to continue.
The government has created plans to strengthen investor confidence with the market. These plans have led to a new lease on life for the market. Measures include tax and tariff reforms, financial sector reforms, and liquidity improvements.
Country GDP is expected to continue through 2022. The GDP is expected to grow this year and next, with a forecasted 3.2% growth rate, based on last year’s data. Furthermore, housing prices are expected to increase by 1.8% from last year’s level.
The potential in Malaysia's property market is vast and set to grow rapidly. The real estate market in Malaysia is predicted to be one of the most profitable industries, with a high return on investment and a clear, stable growth rate and strong performance.
In order to unlock the immense property potential in Malaysia by 2023, it is important that an increased focus needs to be placed on developing a clear and robust investment policy framework. This will ensure that high-quality developments are able to provide a range of property options for homeowners, businesses, and investors alike.