KUALA LUMPUR (Jan 30): The moderate growth pace of Malaysia’s property market in 2023 is most likely to continue this year, mainly due to buyers remaining cautious in property purchases despite overall sentiment having improved, according to Rahim & Co International Property Consultants Sdn Bhd at the launch of Rahim & Co Research Sdn Bhd’s Property Market Review 2023/2024 on Tuesday.
In his opening speech, Rahim & Co executive chairman Tan Sri Abdul Rahim Abdul Rahman said the market in 2023 overall had pulled through with positive growth at a more moderate pace compared with the growth in 2022. It was a strong rebound after the pandemic.
“While the official numbers for 4Q2023 have not been released, the first nine months of 2023 recorded among the highest numbers in transactions countrywide for the same period since 2011/2012’s peak point, indicating a sustained market momentum from 2022. This is coherent with the post-pandemic recovery pace which has surpassed above pre-2020 performance.
