Industrial properties likely to extend strong sales momentum into 2023 — Maybank IB

Malaysia’s industrial properties sector is expected to extend its strong sales momentum into 2023 after gaining traction in 2022, especially after the reopening of international borders in April 2022, says Maybank Investment Bank Bhd (Maybank IB).

Maybank IB表示，马来西亚的工业地产行业在2022年获得牵引力后，特别是在2022年4月重新开放国际边境之后，预计将将其强劲的销售势头延续到2023年。

“We expect the strong sales momentum to extend into 2023,” it said in a note on 27th  December.

“我们预计强劲的销售势头将延续到2023年，”它在12月27日的一份报告中表示。

Although industrial parks continue to be favoured by investors, the investment bank said developers have turned cautious and intend to slow down their property launches next year to avoid higher construction costs and potential delays in delivery.

尽管工业园区继续受到投资者的青睐，但该投资银行表示，开发商已变得谨慎，并打算在明年放慢房地产推出速度，以避免更高的建筑成本和潜在的交付延迟。

“Also, developers are cautious on property demand as higher interest rates would hit buyers’ affordability,” it said, noting that mortgage loan applications have declined by seven per cent quarter-on-quarter and 15 per cent year-on-year to RM33.5 billion in October 2022.

“此外，开发商对房地产需求持谨慎态度，因为更高的利率将打击买家的负担能力，”它说，并指出抵押贷款申请在2022年10月按季下降7%，同比下降15%至335亿令吉。

For financial year 2023, Maybank IB expects the property sales targets to either be flat or marginally up year-on-year (y-o-y) due to slower launches by developers as labour supply issues remain unresolved.

对于2023财政年度，Maybank IB预计房地产销售目标将持平或同比小幅上升，原因是由于劳动力供应问题仍未解决，开发商推出速度较慢。

Overall, the investment bank has maintained its “neutral” call on the property sector next year, as external factors such as tightening monetary policy, supply chain disruptions and labour shortage issues are likely to linger into 2023 and continue to weigh on property stocks.

总体而言，该投资银行对明年房地产行业保持“中性”呼吁，因为货币政策收紧、供应链中断和劳动力短缺问题等外部因素可能会持续到2023年，并继续打压房地产股。