Local property market to be stable in 2024, followed by 3 years of sustained growth

In the first quarter of this year, the value of property market transactions hit RM56.53 billion. – BernamapicMalaysia’s property market is poised to remain stable in 2024, followed by sustained growth in the next three years, bolstered by various initiatives of the Madani government under Budget 2024, said Housing and Local Government Minister Nga Kor Ming.

He said property counters in the stock market have been on the rise from January 2023 to June 2024, with 76 out of 100 on Bursa Malaysia experiencing an increase in share prices. He noted that among the top counters were DPS Resources Bhd, registering 600% growth in share price, UEM Sunrise Bhd, posting a 347% increase and WMG Holdings Bhd, which appreciated by 326% from January 2023 to June 2024.

“We must work together to enhance our industry’s reputation and increase the confidence level of investors to make the property market even more resilient,” said Nga.

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