PETALING JAYA: Mah Sing Group Bhd expects the property market to see a revival going into 2022 amid the anticipated global and domestic economic recovery.

       In a statement, the property company noted that it remained cautiously optimistic about the property prospects in the medium to long term, citing robust demand for properties due to the young demographic.

       It said the impact of the epidemic has had an influence on the property market in Malaysia over the last two years, and this has resulted in a change in consumer patterns and new challenges for property players.

       It said the pace of revival for the sector could quicken in the year ahead, if global and domestic economic growth was stable.

       Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said the company would focus on rolling out products that were aligned with market sentiment and met the pent-up demand for affordable housing.

       “The group aspires to be Malaysia’s leader in affordable housing, continuing to provide reasonably priced homes with premium features in strategic areas to meet the country’s expanding demand.

       “By creating the ‘reinvent affordability’ campaign, it encourages customers and homeowner to be prudent in their property purchase and do not over stretch their finances,” he said.

       He noted that Mah Sing’s M Series, its affordable range development, is intended to help people, as the economy has only just gradually recovered from the fallout of Covid-19.

       “Our M Series segment offers generally from 700 square feet onwards with an indicative selling price from RM318,000.

       “Hence, we believe that our product range is in line with the market demand,” Leong said.

       On the rental market, Mah Sing expects demand to increase next year, as a result of the opening of travel borders.

       This can be beneficial for homebuyers who want to buy a house as an investment, it said.