Property transactions down 6pct in Q1, value drops 9pct
KUALA LUMPUR: Malaysia's property market slipped in the first quarter of 2025, with transaction volume down 6.2 per cent and value down 8.9 per cent, according to the Valuation and Property Services Department (JPPH).
Its director general, Abdul Razak Yusak said the total transactions amounted to 97,772, valued at RM51.42 billion, compared to 104,194 transactions worth RM56.47 billion in the same period of 2024.
He said although the property transactions began on a slower note, the pace of construction activity and the increase of residential new launches were supported to balance the property market growth and sustain its positive momentum in 2025.
"Construction activity in the first quarter of 2025 showed significant growth, with the number of completed residential units rising by 30.2 per cent to 9,329 compared to the first quarter of 2024.
"The number of projects that started construction also increased by 32.5 per cent, reaching 28,344 units from 21,391 the previous year," he said during a presentation on the property market broadcast on Facebook today.
The number of new residential launches more than doubled to 12,498 units, up from 5,585 units in the same period of 2024, with a sales performance of 10.8 per cent.
Abdul Razak said this encouraging growth indicates a strengthening development trajectory for the residential subsector.
Meanwhile, the Malaysian House Price Index in 1Q25 stood at 225.3 points, with an average house price of RM486,070 per unit, reflecting an annual growth rate of 0.9 per cent.
"All states witnessed moderate positive growth ranging from 0.3 per cent to 6.9 per cent, except for Sabah and Sarawak, which remained stable, while Kuala Lumpur declined by 2.4 per cent," Abdul Razak said.
Commenting on the outlook, he said the property market is expected to maintain its resilience, fueled by strong momentum in the construction sector and a continued increase in newly launched residential units.
"Although the property market maintains a positive outlook, industry players and property developers are urged to remain attentive to market dynamics, global economic challenges, and an uncertain external environment.
"Special financial and infrastructure incentives under the Johor-Singapore Special Economic Zone, the Special Financial Zone in Forest City, Johor, and ongoing infrastructure development are expected to further stimulate long-term growth in the property market," Abdul Razak said.
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