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Property market to stabilize as economy improves

May 4th, 2018 Leave a comment
JPPH) National Property Information Center (Napic) director Md Badrul Hisham Awang.

JPPH director Md Badrul Hisham Awang

The overall property market is expected to stabilise this year, underpinned by the improving Malaysian economy that had recorded 5.9% GDP growth last year, said Valuation and Property Services Department’s (JPPH) National Property Information Center (Napic) director Md Badrul Hisham Awang.

“The property transaction volume and value are expected to stabilise this year. The drop rate of the volume and value last year has narrowed to a lower single-digit figure. In 2018, I believe the prices will not drop while the number of transactions will remain stable,” he said at a sales and marketing conference organised by Real Estate and Housing Developers’ Association Malaysia (Rehda) Institute in Kuala Lumpur today.

According to him, transaction numbers only fell by 2.7% to 311,824 from 2016 to 2017, slower than the declines of 11.5% and 5.7% registered in 2015 and 2016.

Meanwhile, transaction values fell by 3.8% year-on-year to RM139.84 billion last year, compared with a decline of 8% in 2015 and 3% in 2016.

In 2017, the value of residential sub-sector transactions had risen by 4.4% despite volume shrinking by 4.1%.

“Looking at the numbers, it seems that our market is getting better and improving,” he added.

Themed “Utilising Data to Build Demand Driven Real Estate”, the conference saw industry experts sharing their insights on the property market and strategies to overcome current challenges.

Badrul was one of the speakers with his talk entitled “Overview of Napic Data and Transaction 2017 – Malaysia’s Property Market Performance Indicators”.

Source: EdgeProp.my

 

Categories: Property News Tags:
  1. Double
    May 4th, 2018 at 23:05 | #1

    As they say, price can double in ten years, to be safe, I give it 20. Still win,

  2. Double
    May 4th, 2018 at 23:05 | #2

    As they say, price can double in ten years, to be safe, I give it 20 years

  3. Waste money
    May 5th, 2018 at 01:07 | #3

    In singapore, hong kong, china triple or fiveple in few years but malaysia no hope, malaysian too poor no invest power, u can see property market now, alot property cant sold and always build affordable house how to double the price?

  4. Double
    May 5th, 2018 at 04:47 | #4

    Land valuation same everywhere, Penang island similar to Hong Kong geography

    @Waste money

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