KUALA LUMPUR, Aug 12 (Bernama) -- Malaysia's property sector remains one of the most dynamic markets in the region, as proven by price growth in the past year and a highly active second quarter transaction volume, said Ensign Media chief executive officer Terry Blackburn.
"The property sector showed a highly active second quarter transaction volume, especially in the mid- and high-end segments, amidst the implementation of government-led cooling measures and tight bank lending restrictions," Blackburn said in a statement.
Ensign Media, awards organiser and publisher of Asia's industry-leading Property Report magazine, is expected to organise the South East Asia Property Awards (Malaysia) on Aug 26, 2015.
Vying for the year's Best Developer award are Dynasty View Sdn Bhd (a wholly-owned subsidiary of UM Land Bhd), Mah Sing Group Bhd, Sime Darby Property Sdn Bhd, and SP Setia Bhd and subsidiaries.
The development industry in Malaysia faces numerous challenges, including the Goods and Services Tax, the probable increase in interest rates, more stringent lending criteria from banks under the new responsible lending guidelines -- and may or may not continue to boom, as some market growth has been unsustainable, said head of the judges panel David Aboud.
"Developers will need to be more careful but the quality players will adapt. The focus will remain on the mid-level market," he added.