Property transactions in 1Q24 up 34.3% to RM56.53bil

Malaysia's property market recorded more than 104,297 transactions worth RM56.53bil in the first quarter of 2024.

KUALA LUMPUR: The Malaysian property market was active in the first quarter of 2024 (1Q24), recording a 34.3% growth compared to the first quarter a year ago, with more than 104,297 transactions worth RM56.53bil, a 34.3% jump in transaction value.

Valuation and Property Services Department director-general Abdul Razak Yusak said in terms of volume, property sub-sectors recorded positive growth in 1Q24; the commercial sub-sector grew by 33.4%, residential by 16.6%, industry by 14.3%, agriculture by 13.7% and development land and others, 10.7%.