PETALING JAYA: Despite the overall gloom and doom in the global economy, a glut of condominiums and cooling measures by Bank Negara to deter speculation in the overall property market, the general observations on the ground indicate strong sales for certain segments of this market.
This underscores the fact that real estate continues to be a preferred investment choice in the current economic climate.
The latest report by Knight Frank Real estate highlights 1st half 2012 said there were five completions in the first six months of this year, bringing the total cumulative supply in Kuala Lumpur to 29,882 units.
Another five developments are expected to be completed in the second half this year. This will bring the cumulative supply to 31,163 units. These numbers cover the high-end condominium market priced RM500 per sq ft and above.
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