JOHOR BARU: The property market in Johor is expected to remain positive in 2010 and 2011, given the improvements seen since the second half of 2009 and the first half of this year.
Johor Real Estate and Housing Developers Association (Rehda) branch chairman Simon Heng said demand for residential property has improved and that developers could expect a better year ahead.
He said the property market had regained momentum after experiencing a slowdown almost two years ago, due to the global economic downturn, which was caused by the US subprime crisis and European financial woes.
“Consumers’ confidence is returning and developers here are cashing in,” Heng told StarBiz. He said this could be seen from the many new property launches over the last 12 months. Heng said developers that took part in the Malaysia Property Expo in April this year had recorded RM200mil sales a month after the event ended.
He also said banks were offering attractive interest rates to buyers and consumers were spoilt for choice with the numerous loan packages available in the market. “Feedback from our members show that many first time property buyers are taking advantage of the good offers to buy houses,” he said.
Source: http://www.starproperty.my
