Fewer property launches seen due to softening market and bleak household sentiment

Media conference: Chua (right) at a press conference after the launch of the NAPIC report. With him are NAPIC director Khuzaimah Abdullah and Valuation & Property Services Department director-general Faizan Abdul Rahman.

PUTRAJAYA: There will be fewer new property launches this year in light of the softening market and bleak household sentiment.

According to the National Property Information Centre’s (Napic) 2015 Property Market Report, the number of new launches fell to 70,273 units, down by 19.2% against 2014 (88,997 units).