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Ahmad Maslan: Property market transactions rise to RM85.4bil in 1H23

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KAJANG: Malaysia’s real estate market recorded a stable performance in the first half of 2023 (1H 2023), with the value of transactions increasing by 1.1 per cent to RM85.37 billion from RM84.40 billion in 1H 2022.

Deputy Finance Minister I Datuk Seri Ahmad Maslan said the volume of transactions, however, showed a marginal decrease of 2.1 per cent to 184,140 for 1H 2023 versus 188,002 in the corresponding period last year.

Ahmad said the new residential property segment saw cautious sentiment during the period under review, recording more than 16,000 newly launched units compared with 33,205 units in 1H 2022 with the majority of new launches being in Johor, Selangor and Penang. "Johor continued to have the highest residential property overhang with 4,717 units, followed by Selangor with 4,307 units. These states recorded overhang value of more than RM4.0 billion each,” he said.

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