Less speculation leads to drop in house prices

Good move: Chua (second from left) talking to participants after the launch of the convention in Kuala Lumpur.

KUALA LUMPUR: House prices have dropped after measures were put in place to check rising property prices due to speculation, says Datuk Chua Tee Yong.

The Deputy Finance Minister said data from the National Property Information Centre (NAPIC) showed that there was a drop in house prices with the market slowing down from 12.2% in the third quarter of 2013 to 4.6% in the same period last year.