Property group takes developers, buyers to task for role in market overhang

A general view shows a condominium complex in Cheras, Kuala Lumpur. A property group is calling on developers to not build too many property developments and for buyers to be more discerning when purchasing to not create artificial demand. – The Malaysian Insight pic by Nazir Sufari, November 23, 2017.

PUTRAJAYA’S case-by-case freeze on high-end developments is a wake-up call to developers not to overbuild and buyers to be more discerning, an association of private sector property valuers and agents said today.

The Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (Peps) took developers to task for their “indiscriminate” building of properties and buyers for creating “artificial demand” as among the causes of the property market overhang.

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