KUALA LUMPUR (Sept 7): Bank Negara Malaysia’s (BNM) decision to leave the overnight policy rate (OPR) unchanged has reassured the Malaysian real estate market to remain relatively affordable, said Juwai IQI, an international real estate technology group.
In a statement today, Juwai IQI co-founder and group chief executive officer Kashif Ansari said that with the decision, home buyers and owners would not see their mortgage payments go up and landlords would not feel the financial pressure to raise rents on their tenants.
“Bank Negara has declared that it will maintain its OPR at 3.0% in September. Looking forward, we expect the central bank to again leave the rate unchanged at its next meeting in November,” he said.
Kashif also said that a steady OPR would bring certainty and stability to the market and reinforce the growing residential real estate market, where transactions were increasing and the property overhang was shrinking.
“Whether BNM raises, lowers, or leaves rates steady in 2024 will depend on how strong the economy is and how fast prices grow,” he noted.
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Source: EdgeProp.my
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