Property sector outlook likely to remain neutral in 2021 – PropertyGuru
Property / Amin

by BERNAMA / pic by MUHD AMIN NAHARUL

THE outlook for the property sector in Malaysia would likely remained neutral in 2021 given the cautious sentiment due to COVID-19.

PropertyGuru Malaysia country manager Sheldon Fernandez said the short-term sentiment takes into account the Conditional Movement Control Order (CMCO) and the rise in COVID-19 cases in the country.

“However, we do expect to see an increase in investment activity, given the current conducive environment with the Real Property Gains Tax (RPGT) exemption and so on.

“I think the market’s recovery will probably take place in the second half of 2021, to return to the pre-COVID-19 level,”  he said in a webinar in conjunction with the ‘Asia Virtual Property Expo Exclusive Media Preview’ by PropertyGuru Group today.