NAPIC’s assessment of property market Malaysia
Article in theedgemarkets.com The property market is expected to be on the recovery path in line with the gradual economic recovery, supported by the implementation of various government initiatives and assistance, said the National Property Information Centre (NAPIC).
Property market performance recorded a significant increase in the first half of 2021 (1H21) compared with in the same period last year.
In the Malaysia Property Market Report for 1H21 released today, volume of transactions across the sub-sectors showed upward movements, it said with residential, commercial, industrial, agriculture, and development land sub-sectors recorded year-on-year growth of 22.2%, 28.5%, 29.4%, 13.9%, and 21.3% respectively.
“All states recorded higher market volumes except for Wilayah Persekutuan (WP) Putrajaya. The four major states (and federal territory), namely Kuala Lumpur, Selangor, Johor and Pulau Pinang formed about 50% of the total national residential volume,” it shared.
In the primary market, the report showed there were 16,660 units launched, down by 34% against 25,227 units (revised) in 1H20 while sales performances for new launches 24.7% better than in 1H20 (revised 12.9%).
NAPIC said Selangor recorded the highest number of new launches in the country, capturing nearly 24.7% (4,114 units) of the national total with sales performance at 26.2% followed by Kuala Lumpur with 3,651 units or 21.9% with sales performance at 3.5%. The article is very long with a lot more insights. Read it here: Article in theedgemarkets.com