Monday, August 8, 2011

Mixed outlook for property in H2

Mixed outlook for property in H2

Rahim & Co executive chairman Datuk Abdul Rahim Rahman said: “The market is giving a mixed indication, but what is happening in the United States and Europe is very serious and will have an effect on this part of the world. For example, the take-up rates of newly-launched condominiums have been very encouraging with more than 60% sold just a few months after launching. However, on the rental market, leasing has been less active and rental rate has not increased that much.

We are not sure what will happen in the second half of this year, but we are taking a cautious stand,” said Kho.

He said the prices of landed units would continue to go but they are seeing a disparity between asking price and transacted price widening. This disparity was seen a couple of months ago, he said. Prices have gone up compared with the first half of this year but the increase was less.

“We expect this situation to continue - growing disparity between asking and transacted price,” Kho said.

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