PETALING JAYA: Kenanga Research remains “neutral” on property developers on the view that the sector will continue to be weighed down by the bearish oversupply and cautious lending activity of banks.
A bright spot for the sector, however, is the landed homes sub-segment. Since the onset of the Covid-19 pandemic, prices for terrace homes were the only sub-segment that have shown notable growth, while prices of high-rises and detached homes have either declined or only grown marginally, the research firm revealed.
Housing affordability for many buyers has been eroded by the higher interest rates and soaring construction cost.
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