Malaysian property market stable in first half of 2023: Napic report

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KAJANG: Malaysia’s real estate market recorded a stable performance in the first half of 2023 (H1’23), with the value of transactions increasing by 1....

Ahmad delivering his speech at the launch of National Property Information Centre’s property market H1 2023 report. – BernamapicMalaysia’s real estate market recorded a stable performance in the first half of 2023 , with the value of transactions increasing by 1.1% to RM85.37 billion from RM84.40 billion in H1’22.

“It was followed by the agriculture sub-sector with a 19.8% share in terms of volume, while in terms of value, the commercial property sub-sector was second with 19.6%,” he said in his speech at the launch of the National Property Information Centre’s Property Market 1H 2023 Report today. “Condominium/apartment units made up nearly 58% of the residential overhang, while in terms of price range, almost half were priced more than RM500,000 per unit.

Ahmad said residential construction activity in the country recorded a decrease in completion, starts and new planned supply, down by 10.4%, 1.2% and 15.8% respectively compared to the same period last year.

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