Property deals drop, value of transactions rise, prices may rise

Valuation and Property Services Department deputy director general, Faizan Abdul Rahman, says the residential sub-sector, which accounts for about 64% of the total property transactions, saw a 14% drop from a year earlier, with average house prices exceeding RM300,000.

KUALA LUMPUR: Property transactions dropped in the first nine months of last year, said the Valuation and Property Services Department, confirming observations by real estate professionals that the market is slowing down.

Although the number of transactions was lower, there was an upward trajectory in value, an indication of rising prices.