The number of housing units approved and number of new companies registered rose, providing a positive outlook for the economy in the third quarter of 2018.
KUALA LUMPUR: The Malaysian property market is expected to remain soft in 2018 - but ongoing Government measures will continue to ensure it remains sustainable.
Valuation and Property Services Department (JPPH) director-general Nordin Daharom said despite the sluggish property market currently, there are still various ongoing initiatives that will continue to support the housing sector.
“Measures remain intact to ensure market sustainability. House prices will continue to record gradual growth.
“Major infrastructure projects are catalyst for the property market,” he said during the 11th Malaysian Property Summit 2018 (11MPS) today.
During his presentation, Nordin pointed out that transaction volumes in the nine months of 2017 slipped 4.3% to 229,529 compared with 239,916 in the previous corresponding period.
However, in the same period, transaction volumes rose 6.7% to RM102.29bil in the first nine months of 2017 compared with RM95.85bil in the previous corresponding period.
The 11MPS is co-organised by the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) and JPPH.
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