Realities of realty.

WILL the government's latest incentives to stimulate the economy work for the property sector? DEPENDING ON THE VARIOUS opinions being voiced around the Malaysian real estate sector, these are either not the worst of times and could soon become the best of times, or things are bad and are going to get worse.

Optimists in the industry point to the local market still faring better than many others in the region, prices still being above those of two years ago and the potential for a quick rebound, thanks to government reforms spurring overseas interest.

Meanwhile, those with a less positive frame of mind cite price falls of up to 20% in some property segments, the high numbers of unsold/unlet properties in existing developments, the slowdown in launching new realty projects and uncertainty over the impact of the state's reform packages.