Housing market still volatile, but warehouses are booming

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As with most sectors of the economy, the property market was hit hard by the Covid-19 pandemic.PETALING JAYA: A property expert says supply for domestic property is expected to rise but demand will fall, causing the real estate market to remain “very volatile”. However, commercial real estate is doing well. Demand for warehouse space has gone up because of limited supply and an increasing need to store items for online transactions. Siva Shanker, chief executive of an international property consultancy, said the housing market went into panic after the national lockdown as no one knew what to expect from the Covid-19 crisis. Residential property remained the most volatile segment because of high supply and low demand. “This sector will be shaky and will take a while to see some strong traction,” he said, and more data would be needed on the market’s reaction after a six-month loan…