19 AUGUST, KUALA LUMPUR – The Malaysian Institute of Estate Agents (MIEA) has debunked the notion of properties’ value moving towards half-price as appeared in a local daily under the heading “Houses at half-price, anyone?”.
President Chan Ai Cheng said the two properties mentioned in the publication were isolated cases and should not be used as a yardstick that it is happening all around the country.
“Majority of the developers do offer discounts but not as dramatic as reported. In a recent poll conducted by MIEA with real estate practitioners who are on the ground and knows exactly the happenings showed no such evidence,” she said in a statement.
She said developers have no intention of reviewing their selling prices as demand is strong, especially in established localities and in newly well-planned townships.
“Though admittedly the growth rate over the past three years have been less than five per cent due to the challenges in the property market, the key takeaway is that the Malaysian property market is resilient,” she added.