No sign that prices will drop
ALTHOUGH the property market is set to remain soft this year, it still has a lot of good things going for it and the outlook is far for grim.
At the 11th Malaysian Property Summit 2018 (11MPS) held this week, Valuation and Property Services Department (JPPH) director-general Nordin Daharom says property valuations had been on a steady uptrend last year. This, despite falling transaction volumes, is expected to continue into the year.
During his presentation, Nordin points out that transaction volumes in the nine months of 2017 slipped 4.3% to 229,529 compared with 239,916 in the previous corresponding period
However, in the same period, transaction values rose 6.7% to RM102.29bil in the first nine months of 2017 compared with RM95.85bil in the previous corresponding period.
“There is no sign that values will drop and transaction values in 2018 should be maintained at 2017 levels,” he says.
MediaTitle - The Star
Date - 27 Jan 2018