The country’s real estate sector recorded 295,968 transactions worth RM119.08 billion in 2020, a contraction of 9.9% in number and 15.8% in value compared with 2019. Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the significant decline in performance was a result of the effects of the Covid-19 pandemic. “The decline was attributed to…
Read MoreKuala Lumpur is a popular spot for both home buyers and investors as it is an inspiring place to work, live and play. The property industry is showing signs of movement in 2021 as the Malaysian economy is trying to stir up activity amid all the lockdowns. Here, we list down five of Kuala Lumpur’s…
Read MoreTransactions in the residential property market decreased by 8.6% in volume and 9% in value partly due to fewer new launches compared with 2019. KAJANG: Malaysia’s property market performance significantly declined in 2020, declining by 9.9% in volume and 15.8% in value, the Valuation and Property Services Department said today. Its 2020 annual report stated…
Read MoreThe Kuala Lumpur City Hall (DBKL) has received 38,145 applications for the People’s Housing Projects (PPR) and Public Housing (PA) up until last January. Kuala Lumpur Mayor Datuk Seri Mahadi Che Ngah (pictured) said applications involving the urban poor had been received since 2009. “Of the total, 14,412 applications have been offered for the housing…
Read MorePR1MA Malaysia Corporation (PR1MA) will review the potential of about 20 projects under it that have been or will be terminated so that these can be developed based on concepts that suit current needs. Its chairman Datuk Seri Dr Shahidan Kassim said the initiative was planned to boost the construction sector and the housing market….
Read MoreBank Negara Malaysia (BNM) said today Malaysia’s household debt-to-gross domestic product (GDP) ratio had risen to a new peak of 93.3% as at December 2020, from the previous record high of 87.5% in June 2020, mainly due to the country’s GDP remaining below pre-Covid-19 crisis levels and as growth in the nation’s household debt normalised…
Read MoreThe number of unsold properties has seen a respite amid the government’s Home Ownership Campaign (HOC) except for the commercial market, as it remains worrisome amid the new norms, Bank Negara Malaysia (BNM) Governor Datuk Nor Shamsiah Mohd Yunus said. “The amount of unsold properties is still very high. It is about 170,000 units but…
Read MoreThe Malaysian economy is projected to expand between 6.0 per cent and 7.5 per cent in 2021 compared with a contraction of 5.6 per cent in 2020, supported by domestic factors such as consumption and a brighter external environment fuelled by vaccine rollout. Besides inoculation, less stringent containment measures and COVID-19, gradual improvement in labour…
Read MoreUnsold properties continue to remain at an elevated level, driven by serviced apartments, small office home office (SOHO) units, and houses priced above RM500,000 in less popular locations, said Bank Negara Malaysia (BNM). The housing market had hit a historical low in terms of activity in the second quarter of 2020 (2Q20), according to BNM’s…
Read MoreAlthough many developers perceived the first half of the year as unfavourable, their views have slightly changed for the better for the second half, according to Real Estate & Housing Developers’ Association (Rehda) Malaysia. The somewhat renewed interest in the property industry stems predominantly from the declining daily Covid-19 numbers and the rollout of Covid-19…
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