Paramount Property Group CEO Jeffrey Chew (third from left) and Mitsui Fudosan (Asia) Malaysia managing director Masayoshi Saito (third from right) at the signing of the joint venture.KUALA LUMPUR: A property developer says luxury homes are not contributing significantly to the overhang in the Malaysian real estate market.
Paramount Property Group CEO Jeffrey Chew said conditions that worsened slightly last year involved “a different segment”.
“Demand remains strong in high-end segments,” he told reporters after announcing the group’s joint venture with Japanese real estate company Mitsui Fudosan here.
According to a report by the National Property Information Centre, released in September, the number of unsold completed homes increased by 8.6% between the second half of 2025 and the first half of 2026.
