KUALA LUMPUR: Residential property transactions are projected to increase by 15% over the next five years, driven primarily by population growth, according to IQI co-founder and group chief executive officer Kashif Ansari.
He said population expansion would lead to the formation of about 582,000 new households in that period, providing a strong underlying driver for housing demand nationwide.
“Population growth alone could lead to a 15% increase in the number of homes purchased, and that leaves out demand from upgrade buyers, investors and foreign buyers,” he said in a statement.
Malaysia’s population is expected to grow by 2.2 million people, from 34.3 million currently to 36.5 million by 2030.
Based on an average household size of 3.8 persons, the additional population would translate into more than 116,000 new households annually over the next five years, he said. — Bernama
