Malaysia's property transactions fall in Q1
KUALA LUMPUR, May 9 (Xinhua) -- Malaysia's property transaction performance experienced a slight decline, with the volume and value of transactions decreasing 6.2 percent and 8.9 percent year-on-year, respectively, to 97,772 transactions and 51.42 billion ringgit (11.94 billion U.S. dollars), official data showed Friday.
The National Property Information Centre and the Valuation and Property Services Department said in a statement that although property transactions began on a slower note, the robust pace of construction activity and the increase of residential launches were supported to balance the property market growth and sustain its positive momentum in 2025.
According to the statement, construction activity in Malaysia's residential property subsector recorded significant growth in the first quarter, with the number of completion units surging 30.2 percent year-on-year to 9,329 units, while housing starts rose 32.5 percent to 28,344 units.
This encouraging growth indicated a strengthening development trajectory for the residential subsector.
The performance of residential overhang recorded a total of 23,515 units valued at 15 billion ringgit, reflecting a marginal increase of 1.6 percent and 7.7 percent in volume and value compared to the previous quarter.
The Malaysian House Price Index in the first quarter stood at 225.3 points (an average price of 486,070 ringgit per unit), with an annual growth rate of 0.9 percent. (1 ringgit equals 0.23 U.S. dollars)
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