Slowdown in property prices rekindles market interest - PropertyGuru

A slowdown in property prices in the second half of last year has rekindled interest among potential buyers, said PropertyGuru.

A recent survey by the online property portal company revealed that 60 percent of the consumers intended to buy properties within the next six months.

"However, 36 percent of them prefer to buy from property developers rather than from the secondary market," it said when releasing the findings of the survey themed, "Malaysia Property Market Sentiment Survey Report H1 2016" today.

PropertyGuru Malaysia country manager, Sheldon Fernandez, said property developers were offering more value in pushing their units to potential buyers.

"Hence, buyers are expressing positivity as they realise that the current scenario of moderating prices and exciting offers is quite attractive and may not come again in the near future," he said.

In addition, Fernandez said the oversupply of various properties, especially high-rise or strata residences have resulted in favourable conditions for property buyers.

The survey also showed that 28 percent of Malaysians expressed satisfaction with the local property market in the second half of 2015, up three percent from the first half of 2015.

However, many expressed frustration over the unaffordable pricing and inability to obtain adequate financing, it added.