The outlook is supported by various stimulus provided by the govt and right product positioning

by FARA AISYAH

THE residential market is expected to see a slow uptick post-Movement Control Order (MCO).

Knight Frank Malaysia Sdn Bhd MD Sarkunan Subramaniam (picture) said the outlook is supported by various stimulus provided by the government including the reintroduction of the Home Ownership Campaign featuring stamp duty exemptions, among others.

“Developers may also reconsider their product positioning and marketing strategies including leveraging technologies and partnering e-commerce platforms to improve their sales moving forward,” he said in a statement yesterday.

Malaysia Real Estate Highlights for the first half of 2020 (1H20) by Knight Frank noted that there was only one notable completion of high-end condominium or residence projects in Kuala Lumpur (KL) during the period, namely Sky [email protected] (986 units).

The nationwide MCO had halted most construction activities before its gradual easing of restrictions, leading to the scheduled completion of projects including Agile Mont’ Kiara (813 units), Arte Mont’ Kiara (1,707 units) and TWY Mont’ Kiara (484 units), being pushed to 2H20. Another two projects — 8 Kia Peng (442 units) and Tower 2 @ Star Residences (482 units) — are also scheduled for completion by 2H20.