Property Malaysia – Slight Impact Expected On Property Market From Euro Economic Slump
CHOR: SLIGHT IMPACT EXPECTED ON PROPERTY MARKET FROM EURO ECONOMIC SLUMP
Housing and Local Government Minister, Datuk Seri Chor Chee Heung today assured that the European economic slowdown will only have a slight impact on the local property market.
He says the crisis is expected to affect high-end properties while the medium range property market is expected to remain resilient.
Datuk Seri Chor adds that if developers build more affordable houses for local buyers, this will be the main driving force for the country’s property development.
Moving forward, the ministry is also targetting to revive another 35 abandoned housing projects nationwide this year, after successfully restoring 35 others previously.
Various measures will also be taken by the ministry to stop developers from abandoning their projects.
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