Malaysians Bullish On Local Property Market

Malaysians remain bullish on the local property market, according to iProperty.com Group's online Asia Property Trends Survey 2008.

In a statement here Tuesday, iProperty.com said the survey, which revealed the buying habits and trends of approximately 2,000 local and overseas property buyers who visited its website, www.iProperty.com.my, was conducted online from Aug 1-31, 2008.

"The survey showed 67 of the respondents expected property prices to go up by more than 10 percent in the next six to 18 months.

"Fascinatingly, 13 percent of them felt that Malaysian property prices will increase by over 40 percent in the same period," it said.

iProperty.com said the survey also showed 50 percent of the respondents had purchased at least one property over the last 24 months and 89 percent of them intended to buy property within the next 12 months.

The survey showed that Malaysians were also interested to buy landed properties with 63 of the respondents keen on ready-made/completed landed property.

Source: Bernama, 23 September 2008