Overall, the property market performance strengthened with the number and transaction value expanding by 3.1 per cent and 0.3 per cent, respectively. — Picture by Hari Anggaraas a first-time user . Exclusively for Malay Mail readers: Use codeKUALA LUMPUR, Dec 17 — Malaysia’s housing market, and by extension the property sector, remained resilient and stable throughout 2024 supported by brisk demand and new projects, reflecting investor confidence.
Optimism among developers was palpable, with over 32,000 new landed and high-rise homes initiated in the third quarter — a substantial 50 per cent jump from 2Q. “They delivered nearly 24,000 homes in 3Q 2024, similar to the previous quarter,” Kashif told Bernama.A predictable market with stable rates and prices makes it easier for consumers to research their purchases, he said.
Valuation and Property Services Department Director-General Abdul Razak Yusak said 3Q 2024’s improved performance was due to positive growth in transaction numbers in all subsectors. Additionally, the Home Ownership Campaign 2.0 offers stamp duty exemptions on transfer and financing agreements for first-time buyers of units valued up to RM500,000 until Dec 31, 2025.
Property companies navigated a mixed landscape with moderate growth, balancing cost pressures and cautious demand in the residential sector this year while commercial properties showed signs of recovery but face longer-term structural challenges. To boost sales, developers would offer assistance with down payments , increase their use of digital marketing and virtual technologies and provide discounts to buyers, averaging eight per cent.Ho said developers are more optimistic about 1H 2025’s outlook versus 2H 2024, which was driven by carry-forward transactions from the previous year and rising building material costs.
Stable interest rates and broad-based growth will position Malaysia for steady progress in 2025, he said.