Market settling into a new normal, says JPPH DG

PETALING JAYA (Dec 28): While the property market has remained soft in 2017, Valuation and Property Services Department (JPPH) director-general Nordin Daharom believes the market is still holding up as transactions are still taking place.

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Property market is not looking up yet

Although some prefer to be optimistic and believe we are already seeing a glimmer of recovery for the current slowdown in the property market, what does the latest market data tell us? The latest property market data for the first half of 2017 (1H17) released by the Valuation and Property Services Department (JPPH) of the Finance Ministry during the 2017 Preliminary Property Market Brief on Nov 13 revealed that overall, the property market has softened in 1H17, with more than 153,000 transactions recorded worth RM67.

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Where do we go from here?

Property transactions are down, office occupancies are down, unsold units are up — things certainly didn’t look good in 2016, according to the Malaysian Property Market Report 2016 released by the Valuation and Property Services Department (JPPH) early this week.

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