Property market showing signs of recovery in 1H2021

The Malaysian property market has recorded a significant increase in the first half of this year (1H2021) as compared to 1H2020, according to the latest report by the National Property Information Centre (Napic).

In its “Malaysia Property Market Report – first half of 2021” which was released on Sept 15, a total of 139,754 transactions worth RM62.01 billion were recorded, up 21% in volume and 32.1% in value compared to the same period last year.

“Volume of transactions across the sub-sectors showed upward movements. Residential, commercial, industrial, agriculture and development land sub-sectors recorded year-on-year growths of 22.2%, 28.5%, 29.4%, 13.9% and 21.3% respectively,” it said.

The transaction value of commercial, industrial, agriculture and development land sub-sectors also recorded significant growth of 34.7%, 28.4%, 19.8%, 33.1% and 40.6% respectively.

“The acceleration of the National Covid-19 Immunisation Programme and the National Recovery Plan threshold across the states will see the reopening of more economic and social sectors in the fourth quarter of 2021.

“Supported by the implementation of various government initiatives and assistance, the property market is expected to be on the recovery path in line with the gradual economic recovery,” said Napic.   

This story first appeared in the E-weekly on Sept 17, 2021. You can access back issues here.

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