THE residential property market has been experiencing an upturn since the fourth quarter of 2009 as demand rebounded by 7.1% (2009: -2.3%) following improved consumer sentiments. Meanwhile, the increase in housing stock moderated in 2010 as housing started a declining trend.
The widening gap between supply and demand has kept property prices elevated, although at the national level, the Malaysian House Price Index rose only moderately by 6.2% up to the third quarter of 2010. Substantial increases in house prices had been observed in selected locations within and surrounding the urban areas where price increases were up to four times higher than the national house price index.
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