M'sian property market falls 10.9% in volume, rises 6.7% in value


KUALA LUMPUR: The Malaysian property market saw a decline of 10.9% in volume for the year 2013, with 381,130 transactions done compared to 427,520 in 2012.

However, it saw a 6.7% increase in value, with RM152.37bil done for 2013 compared to RM142.84bil a year ago, according to the Property Market Report.

It said the residential sub-sector continued to spearhead the property market activities, taking up 64.6% share.

“Prevailing low interest rate environment, with the base lending rate of commercial banks sustaining at 6.53%, and weighted average lending rate to 5.4% continued to support the domestic property market,” it said.

It added the Bank Negara Malaysia’s pre-emptive strategies to preserve household sector resilience through application of 70% loan-to-value ratio on third housing loans onwards as well as guidelines on responsible funding, had gradually impacted the housing market.

It noted the overhand performance continued to improve as the number of residential overhang dropped further to 13,547 units in 2013.

On the contrary, the overhand value increased from RM4.74bil to RM4.8bil in 2014.

On the supply side, completion of residential, shop and industrial sub-sectors improved with 8.3%, 18.2% and 15.8% each.

Construction activities for residential, shop and industrial sub-sectors continued to grow with more starts and new planned supply.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Malaysia property market

   

Next In Business News

SMRT proposes to acquire remaining stake in NTS for RM72mil
MNRB records higher 3Q net profit of RM71.23mil
Ringgit ends lower as US non-farm payrolls shocks Asian foreign exchange
Willowglen secures RM11.92mil contract in Singapore
RHB revise upwards 2022 GDP growth forecast to 8.5%
Aemulus posts net loss of RM4.8mil in 1Q
KLCI tumbles 14.09 points, 730 stocks in the red
AirAsia to lease 15 new planes to meet demand driven by China's reopening
BP profit soars to record US$28bil, dividend increased
Bed Bath & Beyond's road to potential bankruptcy

Others Also Read