Property market poised for growth, with focus on sustainability, innovation and connectivity
Malaysia’s property market is poised to grow in 2025 with a focus on sustainability, innovation, and enhanced connectivity
PUTRAJAYA, April 14, 2015:
Residential properties below RM500,000 were in great demand from 2010 to 2014, said Deputy Finance Minister Datuk Chua Tee Yong.
Chua said in 2013, transactions for residential properties worth
RM200,000 to RM500,000 totalled 74,153 units and they increased to
102,082 in 2014.
'This clearly shows that properties in
this category are in demand and the government hopes that developers can
offer more such properties than those more than RM500,000 or RM1
million,' he told reporters after the launch of the Property Market
Report 2014 yesterday.
He said the expectations that more people
would buy properties in anticipation of the fall in property prices
before the implementation of the Goods and Services Tax turned out
otherwise.
'According to the transaction data in the
first quarter 2014 compared to the first quarter of 2015, the number of
transactions dropped by 4.6%.
'As for the comparison in the fourth
quarter 2014 to first quarter of 2015, the number of transactions
declined by 6.2%,' he said.
