Property Experts Turbulence 2024

Property industry experts in Malaysia are increasingly vocal about their concerns regarding escalating construction and compliance costs that are hampering the sector's recovery in 2024. The aftershocks of the COVID-19 pandemic continue to reverberate throughout the industry, leaving many professionals struggling to regain stability. Rising material prices have significantly increased construction expenses, making it challenging for developers to complete projects within budget.

Moreover, compliance with new regulations has added another layer of complexity to projects, often resulting in unforeseen delays and heightened costs. As financial institutions tighten lending criteria, securing financing for new developments has become a formidable hurdle.

This confluence of issues creates a challenging landscape for the property industry, with many players still reeling from the pandemic's impact. Experts warn that without strategic interventions and support, the industry faces an uphill battle to regain momentum, risking a prolonged period of stagnation that could hinder growth and innovation for years to come.