Positive market movement in Johor

PETALING JAYA (May 6): The property market in Johor showed positive market activity in 2014. A total of 58,547 transactions with total value of RM33.05 billion was recorded, according to the recently released “Property Market Report 2014” by the National Property Information Centre (Napic).

This is an increase of 10.9% and 9.8% respectively, over the 52,779 transactions worth RM30.11 billion in 2013.

The residential, commercial and industrial sub-sectors showed incremental rises in volume of 15.9%, 13.6% and 3.4% respectively. Agriculture and development land dropped 0.5% and 10.2% respectively.

The primary residential market recorded new launches of 11,459 units in 2014, a 27.4% year-on-year increase. Serviced apartments comprised the bulk of new launches at 3,995 units, or 34.9% of the total units launched last year.

Sales performance remained low at 36.7% in 2014, compared with 28.7% in 2013.

In keeping with the national agenda of affordable homes, Johor Corporation subsidiary Johor Land has proposed building 8,000 affordable homes by 2020.

   (Source: Napic)