Jul 17, 2018
Property sector moving forward on positive note in 2H18 — Axis REIT
KUALA LUMPUR (July 16): The property sector is expected to do better in the second half of 2018 (2H18), opposing the general perception of the bearish property sector, as the knee-jerk reaction due to the 14th general election subsided, Axis Real Estate Investment Trust (REIT) head of investments Siva Shanker said.
He said the total transactions improved by 4% in January and February this year.
“The market hibernated around the election time as people were taking a wait-and-see approach and later euphoria of the election caused the market to go into a celebratory mood and as I talked to property agents, they said there are more viewings and enquiries now.
“For 2H18 and 2019, we will see the market beginning to level out and starts its upward trend again, contradicting with the gloomy 2017, which saw the transactions as the bottom of the ‘U’ curve,” he told the audience at “Property Outlook 2018 and Beyond: What now?”.
This article first appeared in The Edge Financial Daily,