Property transactions fall 8.9pc to RM51.42b in Q1 2025 amid rising unsold homes
PETALING JAYA, May 9 — Malaysia's property market recorded a drop in transactions and value in the first quarter of 2025, with 97,772 deals worth RM51.42 billion — down 6.2 per cent in volume and 8.9 per cent in value compared to the same period last year.
In the Q1 2025 Real Estate Market Report released today, Valuation and Property Services Department director-general Abdul Razak Yusak said the residential sub-sector remained the largest contributor, with over 59,000 transactions valued above RM24 billion, according to a report today by Free Malaysia Today.
The industrial segment saw a slight year-on-year growth of 0.3 per cent, while the agriculture and commercial sectors declined by 10.6 per cent and 5.4 per cent respectively.
Despite the slowdown in transactions, construction activity surged in Q1 2025, with 28,344 properties beginning construction, up from 21,391 units in Q1 2024.
The serviced apartment segment recorded a 100 per cent increase in construction starts, jumping from 5,458 units to 14,761 in Q1 2025.
New residential launches also more than doubled to 12,498 units compared to 5,585 units a year earlier.
The Malaysian House Price Index inched up 0.9 per cent to 225.3 points, with average house prices at RM486,070 per unit.
All states recorded moderate price increases of between 0.3 and 6.9 per cent, except Sabah, Sarawak and Kuala Lumpur, which posted a 2.4 per cent drop.
Completed but unsold homes, or residential overhang, rose to 23,515 units valued at RM15 billion, compared to 23,149 units worth RM13.94 billion in Q4 2024.
The overhang for serviced apartments fell 6.7 per cent to 18,246 units, with a corresponding 6.9 per cent drop in value to RM14.61 billion.
Razak said initiatives such as the Forest City special financial zone, the Johor-Singapore special economic zone, and Pulau Satu's duty-free status helped reduce the serviced apartment overhang in Johor to 5.6 per cent in Q1 2025.
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