Muhammed Khalid: Developers should lower prices for unsold high-end homes

Housing developers who have a glut of unsold high-end properties should lower their prices in accordance to market forces, said economist Muhammed Abdul Khalid.

“We are a market economy, so allow the market to adjust […] which means the only rational thing for developers to do is to lower their prices. There is no need for the government to intervene in clearing all these high-end properties” he told reporters in Kuala Lumpur last night...