Escalating housing prices and the changing needs of young buyers have spurred interest in shoebox-sized apartments on Penang island, said Henry Butcher Malaysia (Penang) Sdn Bhd director Jason Teoh.
"Currently, there is no supply of shoebox-sized apartments in the (Penang) market, but I observe that shoebox-sized apartments with facilities will have strong demand from young working adults who are looking for homes offering a modern lifestyle," he told TheEdgeProperty.com after sharing his outlook of the northern region of Peninsular Malaysia.
Kenanga Investment Bank Bhd head of equity research Sarah Lim (pictured) believes the current Malaysian property market down cycle could last longer than usual due to liquidity-driven factors.
“The property market is going through a structural change as key property market drivers are also experiencing structural changes,” said Lim during Malaysian Property Summit Mid-Year Review 2016 today.
The outlook for the property market in the second half of 2016 (2H2016) is expected to remain subdued, said Valuation and Property Services Department director-general Datuk Faizan Abdul Rahman at the Malaysian Property Summit Mid-Year Review 2016 today.
"The overall market activity is expected to tone down, with the residential sub-sector continuing to dominate the market segment, with affordable housing taking the limelight," he added, while presenting his topic “Overview of the Malaysian Property Market”.