Property sales slump due to financing issues: Rehda

PETALING JAYA: Property sales performance experienced a significant decrease to 39% in the first half of 2016 compared with 52% in the previous corresponding period, according to the Real Estate and Housing Developers' Association Malaysia (Rehda). 

In its property industry survey for the first half of 2016, Rehda said two to three storey terrace sales dominated the market share by more than half out of the total sales reported. 

The survey revealed that half of the residential units launched were priced below RM500,000, with launches of properties below RM200,000 on the hike. 

All states were retaining their prices except for Malacca, Rehda said. 

The association added that the situation of unsold units was still manageable despite the decreased in sales performance. 

End financing and loan rejection remained a major problem to nearly 70% of respondents, which had affected almost all price ranges, said the survey. 

Conducted in the first half of this year, the survey was carried out to assess the property market performance for the first half of 2016 and market outlook for the rest of the year.