MALAYSIA

With one of the highest level of income per capita in Southeast Asia, Malaysia has expanded its real estate sector to provide housing, office and commercial properties to a growing middle class. The largest urban areas have attracted most investments, but recent economic and political change modify the property landscape. The real estate market in Malaysia has somewhat stalled or declined in recent years due to several factors that have affected the economy. Yet with a morose outlook, property developers are pushed to become more innovative in terms of products and marketing to reach and satisfy the needs of potential buyers. This year’s primary residential property market will be driven by affordable homes as outlined in Budget 2016. With RM200 million allocated under the First House Deposit Financing Scheme which will be established by the Ministry of Urban Being, Housing and Local Government and RM1.6 billion to be spent to build 175,000 units of PRIMA homes, we can expect this sector to dominate 2016 as housing is a basic necessity that needs to be met.