It’s important to show facts when it matters, I think. This is especially if we are writing about Malaysia and it’s something positive. Usually, when it’s a negative news, it will go viral and it does not matter much whether the news were verified to be from a reliable source or not. For positive news though, we better read it from the source. This was sent to me by Sr. Michael Geh, the FIABCI President (Malaysian chapter). He is also a Senior Partner in Raine & Horne International Zaki+Partners Sdn Bhd.
The primary residential property market will see an estimated increase of 3,206 transactions from 31,993 transactions value of RM12.91 billion in 2018 to an estimated 35,188 transactions value of RM14.27 billion in 2019.
In the secondary residential property market, there will also an increase in transactions of 4,260 units from 165,392 transactions value of RM55.83 billion last year to an estimated 169,652 transactions valued at RM56.76 billion this year.
In the first half of 2019, a total 99,922 residential property transactions worth RM34.65 billion were recorded, which is higher compared to 94,200 transactions worth RM31.66 billion in the same period last year.
The estimated lower performance in the secondary residential property market is due to all stimulus was applied to the primary residential property market and the secondary residential property market was left to fend for itself.
Happy referring to these valuable first-hand charts yeah. So, it’s quite confirmed that 2019 will be the second year that property market Malaysia is on a positive path. If we refer to the estimated numbers above, we could see secondary market is now 4.82 times that of primary market in H1 2019. It used to be over 5 times in 2016. Perhaps the prices may have caused this. Prices for new launches are a little too high for comfort? Happy reading.
Next suggested article: Malaysia now the 12th best country to do business in.