PETALING JAYA: The Board of Valuers, Appraisers and Estate Agents and Property Managers Malaysia (BOVAEAP) expects the property market to remain in the current state until the end of the year.

“The market will be sustained. It has stabilized. We don’t see how the market can further deteriorate, barring external changes,” said Datuk Siders Sittampalam chairman of the test of competence at BOVEAP.

He was speaking to the press at the launch of the updated 6th edition of the Malaysian Valuation Standards.

However, Siders declined to say the property market has bottomed out. 

On another issue, Siders said as at Dec 31, 2018, BOVEAP has included 3,500 property managers who previously did not come under the Board. 

The board was at one time for valuers and real estate agent  professionals only.