Rehda survey: Only 31% of developers launched new projects in 1H17

PETALING JAYA (Sept 20): The Real Estate and Housing Developers' Association Malaysia (Rehda) recent survey showed that only 31% of respondents had new launches in the first half of the year, representing a 12% drop from 2H16.

A total of 153 respondents have participated in the Rehda property industry survey 1H17 and market outlook for 2H17/1H18.

In 1H17, newly launched properties totalled 9,089 units, declining annually by 32%, with an overall sales performance of 48%.

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A majority of the new launches are residential developments (8,743 units), while only 346 commercial properties were launched in 1H17.

Rehda president Datuk Seri FD Iskandar Mohamed Mansor said among all kinds of developments, 2- and 3-storey landed houses were the most launched residential properties, followed by serviced apartments and apartment.

This also reflected in the selling price as 54% of new launches are priced at RM500,001 to RM1 million.

The survey also showed that 44% of the properties were priced at RM500,000 and below.

Only 2% of new launches are selling at above RM1 million.

(Source: Rehda, EdgeProp.my)