Property News

THE improvement of overall residential overhang units in the third quarter of 2022 (3Q22) indicates optimism on the property market for 2023.  National Property Information Centre (Napic) data indicates that the number was down to 29,534 units — valued at RM19.95 billion — from 34,092, with more units being absorbed gradually.  “The market activity looks ...

PETALING JAYA: The government has been urged to reintroduce several initiatives to give the property market a much-needed boost. Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) president Subramaniam Arumugam said that for a start, the home ownership campaign for the primary and secondary markets should be ...

Malaysia’s property market sector will continue to recover although at a slower pace with Asia Pacific facing significant headwinds and an overcast global economy in 2023, said global property consultancy Knight Frank Malaysia. Group managing director Keith Ooi said introducing green incentives should be the key initiative to drive the sector forward. “We hope the government will ...

There is already an uptick in asking prices for residential property in Malaysia, a sign that demand has returned to the market. This has been attributed to the better financial position among Malaysians that has enabled buyers to keep up with mortgage payments and sellers to raise prices. PropertyGuru, an online property portal that covers Asia, noted that Malaysia and Vietnam, where the ...

Senior Associate Director for Laurelcap Group Christopher Chan sees a steady property market outlook for 2023 despite some headwinds facing Malaysia. “Based on the 3rd Quarter 2022 statistics from the National Property Information Centre (NAPIC), there was a total of 105,204 transactions which has a value of RM 46.63 billion. There was a marked increase of 12.6% from the 2nd Quarter of ...

THE Covid-19 pandemic not only provokes challenges along with the economic downturn, but also brings opportunities and changes to the country’s housing market. A “reset” is significantly observed in both the supply and demand sides of the market after the disruptive impact of the pandemic, and is likely to bring changes to structural issues – oversupply, overhang, ...

Malaysia’s property market posted a better performance in the first half of 2022 (H1’22) with activity increasing 36.1% in volume and value year-on-year (y-o-y) to 188,000 transactions valued at RM84.4 billion as all property sectors recorded growth. The property market’s performance recorded a rebound in H1’22, a reflective of normalising economic activity as the country ...

PropertyGuru's Malaysia Property Market Report Q3 2022 revealed that the property sale market index, demand index and supply index across the landed and high-rise sectors showed an upward trend as consumer confidence improved. In a statement today, the online property marketplace said the overall demand index moved upwards by 7.93 per cent quarter-on-quarter (q-o-q) despite being in negative ...

Malaysian's inflation jumped 4.4% to 127.9 in July 2022, its highest in more than a year, as the cost of food continued to accelerate. The increase in the consumer price index (CPI), the highest since April 2021, was in line with the median forecast of a Reuters poll of analysts. Announcing the July inflation data in a statement, the National Statistics Department said the increase in ...

Thirteen years have passed since the Sultan of Selangor Sultan Sharafuddin Idris Shah designated i-City, Malaysia No.1 Technology City an international zone. i-City was also the first property project in the capital city to get Royal support to become an integrated development Being an international zone allows i-City to build Grade-A office towers, international hotels, a regional shopping ...

Juwai IQI warned that the 9 per cent loss in newly planned residential supply and the 47 per cent drop in completed housing may soon lead to a price floor for residential properties in Malaysia. The firm's head of Bumiputera segment Muhazrol Muhamad said that the new home supply will be sufficiently reduced to prevent further price decreases. "As agents, we still see sufficient ...

The local property sector is expected to revive to pre-pandemic levels in tandem with the economic recovery, says Public Investment Bank Research. Its analyst Tan Siang Hing said in a note today that the property sector will recover, with herd immunity expected by end-2021. Tan expects the property sales momentum to continue in the second half of 2021 (2H2021) as the vaccination programme gains ...

Online "shopping" remains a hot trend for those who are looking to purchase a residential unit, either landed or high-rise, amid the ongoing Covid-19 pandemic Further, the ongoing initiative by the government and incentives given by property developers is encouraging potential home seekers to buy a property now instead of spending their money elsewhere. There are several government ...

Sime Darby Property Bhd says there is a growing demand for the company's residential landed type of products and this is based on buying trends among its existing customers. Its group managing director, Datuk Azmir Merican said looking at this trend the company will strive to meet its client's needs with new and existing products in that segment of the property market. Azmir said the ...

 Bank Negara Malaysia has maintained the Overnight Policy Rate (OPR) at 1.75 per cent at its second Monetary Policy Committee (MPC) meeting today. The central bank's MPC considers the stance of monetary policy to be appropriate and accommodative. "Given the uncertainties surrounding the pandemic, the stance of monetary policy going forward will continue to be determined by new ...

WHILE the Malaysian property market has been generally quite soft over the past few years, the industrial sub-sector seems to be bucking the trend and gaining a fair bit of attention of late. Earlier this week, Savills in its Asia-Pacific Investment Quarterly report for the first quarter of 2021 (Q1) revealed that major investment transactions in Malaysia grew 53% year-on-year to RM1.46bil in ...

Axis Real Estate Investment Trust (Axis-REIT) has completed the acquisition of a leasehold property within the Bukit Raja industrial zone in Klang, Selangor for RM37 million. The property comprises 5.6-acre land with two blocks of detached factory and a double-storey office building. It was acquired from Lion Steelworks Sdn Bhd, a unit of Lion Corp Bhd. The net lettable area is 149,605 sq ft. ...

SEREMBAN 2, a 1,520-hectare freehold self-contained township by IJM Land Bhd was established in 1995 and is one of the most progressive and successful developments in Negri Sembilan. The multi-billion ringgit satellite township comprises a good mix of residential, commercial and light industrial properties. Being part of the Greater Klang Valley, the township has been realising its great growth ...

The Real Estate and Housing Developers' Association Malaysia or Rehda urge the government to introduce an all-encompassing force majeure exemption bill or a Covid-19 (Temporary Measures) Bill to lawfully protect players of all industries, including the property sector. Rehda president Datuk Soam Heng Choon said the Bill is much needed, to ensure that every party is safeguarded against any ...

Gamuda Land has partnered with Shopee, an e-commerce shopping platform, to sell houses online, amid the current Covid-19 pandemic. Its chief operating officer Aw Sei Cheh said through this exclusive promotion, customers will be able to browse and purchase selected Gamuda Land properties through Shopee, anytime and anywhere and discover attractive packages that the developer is currently ...