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Malaysia property market records sharp fall in 1H2020

September 23rd, 2020 Leave a comment

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The property market saw a steep y-o-y fall in the first half of 2020 (1H2020). Property transaction volume for 1H 2020 dropped by 27.9% y-o-y to 115,476, while transaction value declined 31.5% to RM46.94billion, based on the latest data released by the National Property Information Centre (NAPIC) which operates under the Finance Ministry’s Valuation and Property Services Department (JPPH).

“The sharp declines in transaction volume and value are in consonant to the Malaysian economy, after the resumption of economic activities in May and June, property market activities saw a turnaround,” NAPIC said in a press statement today.

Based on the 1H2020 Property Market Report unveiled today, the residential sector recorded 75,318 transactions worth RM25.61 billion in 1H2020, declining 24.6% in volume and 26.1% in value compared to 1H2019.

A total of 13,294 units were launched in 1H2020, falling by 43.6% against 23.591 units in 1H2019. Against 2H2019, new launches were 31.6% lower.

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