Housing Ministry committed to efficiently implementing housing industry policies — Nga

• Citing Bank Negara Malaysia’s statement on Friday that household loan demand remains forthcoming, particularly for mortgages, Minister Nga Kor Ming said that the data also indicates that the Malaysian housing sector remains healthy and robust.

KUALA LUMPUR (Aug 16): The Housing and Local Government Ministry (KPKT) will remain committed to efficiently implementing housing industry-related policies, to streamline business operations and attract more investments in relevant sectors, said its Minister Nga Kor Ming. (pictured)

Citing Bank Negara Malaysia’s statement on Friday that household loan demand remains forthcoming, particularly for mortgages, Nga said that the data also indicates that the Malaysian housing sector remains healthy and robust.

He said that the faster-than-expected economic growth is a testament to the Madani government’s commitment to improving the country’s economy and enhancing the livelihoods of the people, under the leadership of Prime Minister Datuk Seri Anwar Ibrahim.

“It is impressive to see Malaysia's economic growth beat market expectations for two consecutive quarters, by growing 4.2% and 5.9% respectively.

“Furthermore, I believe that the salary hike for civil servants, announced by Prime Minister, will continue to support domestic spending, and boost the country’s property sector,” he said in a statement.

On Friday, BNM announced that the country’s economy exceeded initial estimates, advancing by 5.9% in the second quarter of 2024, while outstanding household loan growth was sustained at 6.2% in the second quarter of the year.

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!