Property expert suggests market could stay flat for decade

A general view of properties in Kuala Lumpur. Property consultant Ahyat Ishak today suggested that the sector’s current stagnation may last as long as 10 years. — File pic

PETALING JAYA, April 19 — The property sector’s current stagnation may last as long as 10 years, an industry expert claimed today.

Property consultant Ahyat Ishak said a similar slowdown took place from 2000 and 2009, adding it was possible that this could be the start of another such cycle.

“In 2000, no one could tell the market will remain sluggish until 2009,” he said at a forum organised by the Real Estate and Housing Developers’ Association Malaysia (Rehda) titled “Property Forum 2017: Status Quo or Road to Recovery”.

Others in the panel were surveyor Malathi Thevendran, Maybank head of consumer finances Abdul Razak and economist Dr Kamaruddin Mohd Nor.

None of the other panellists would predict the sector’s direction beyond 2017.