MALAYSIAN PROPERTY MARKET TO IMPROVE FURTHER THIS YEAR

KUALA LUMPUR, Jan 26 (Bernama) -- The Malaysian property market, estimated
to have registered transactions worth RM75.42 billion (US$1=RM3.4) last year, is
expected to improve further in 2010 in line with the economic recovery.

The transactions involved 337,990 properties as compared with the 340,240
valued at RM88.34 billion in 2008, said the director general of
Valuation and Property Services Department, Finance Ministry, Abdullah
Thalith Md Thani.

He said the challenging economic and financial environment had affected the
overall performance of the Malaysian property market last year.

"2010 will be a good year for all. The property market for this year will
improve as the number of transactions involving new housing and construction
activities, increases," Abdullah Thalith told reporters at the Third Malaysian
Property Summit 2010, here Tuesday.

He pointed out that Malaysia is expected to steer towards a recovery path
this year, driven primarily by domestic demand, with commodity prices for
rubber, crude oil and palm oil also improving.

These, he said would increase the confidence level among consumers and
provide a positive impact for the property sector.

"The demand for properties is returning," he added.

Abdullah Thalith said the government would continue to implement appropriate
measures to restore confidence and market sentiment.

He said the liberalisation of Foreign Investment Committee (FIC) guidelines,
would increase the competitiveness of Malaysia, as a preferred investment
destination.

Furthermore, Abdullah Thalith said acquiring properties in Malaysia would
be more attractive, as FIC approval is no longer required.

He said the review of the Real Property Gains Tax (RPGT) would also augur
well for the property industry.

-- BERNAMA