KUALA LUMPUR: Government intervention may be necessary if the material cost problem is prolonged and becomes too serious, said the Real Estate and Housing Developers' Association Malaysia (REHDA).

       Its president, Datuk Soam Heng Choon said industry players have always advocated for a free market, but noted that the global phenomena such as rising prices of oil, copper, bauxite (to manufacture aluminium), and iron ore (to manufacture steel) over the past 12 months was inevitable.

       "In fact, this week alone, there has been a significant increase in aluminium, copper and steel prices," Soam told a press conference on REHDA’s first half of 2021 (1H21) property market survey and outlook for 2H21 and 1H22. - Bernama