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KUALA LUMPUR: The Malaysian residential real estate market is expected to rally over the next 12 months, with prices and rents likely to increase significantly, according to Juwai IQI Malaysia Property Survey and Index for the third quarter of 2022.

In a statement, Juwai IQI co-founder and group chief executive officer Kashif Ansari said the survey among real estate agents around the country suggested that the industry expects significant residential price growth over the next 24 months.

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“Agents believe that residential prices will climb nationally by 11.8% over the next 12 months.

“The growth will continue the following year with prices ending up 16.5% higher over the next 24 months,” he said. — Bernama