PETALING JAYA: There is still growth potential in the local property market although the prevailing volatility of the stock market has turned property consultants and analysts more cautious of the upside. While concerned that the recent stock market jitters, which saw the benchmark Kuala Lumpur Composite Index (KLCI) tumble 54.12 points or 3.84% last Tuesday, would affect property stocks in the near term, they are upbeat that the sector is able to ride out the negative investor sentiment. Property consultant DTZ Nawawi Tie Leong Sdn Bhd executive director Brian Koh said volatile markets would present both threats and opportunities to institutional funds, who may view real estate in Malaysia as an attractive asset class, given a lack of alternatives in volatile markets elsewhere.
(29-1-2008 The Edge)
