High-end condo sales expected to slow this year

https://www.edgeprop.my/content/1315752/high-end-condo-sales-expected-slow-year 26th April, 2018

With the current freeze on new approvals for luxury residential properties, developers are focusing on launching more affordable units and clearing completed unsold stock, said property consultancies Edmund Tie & Co (SEA) Pte Ltd and Nawawi Tie Leung Property Consultants Sdn Bhd.

Thus, sales and new launches of high-end strata residential projects are expected to be subdued in 2018, said both firms in their “Kuala Lumpur 1Q2018 — Election provides a brief distraction to market challenges” research report.

“There has been no new catalyst to drive sales and initiate market recovery. In fact, more units are expected to come on board in the secondary market, and this will exert greater downward pressure on prices,” said the report, adding that more than 6,000 high-end condos will be completed throughout 2018, posing more challenges to the growing inventory of unsold homes.