Residential property prices in Malaysia have been rising in recent years. A report published by the National Property Information Centre (Napic) indicated that the residential price index was at an all-time high in 2017 and is expected to continue to rise.
The Malaysian House Price Index rose 89.4% from 97.2 points in the first quarter of 2010 to 184.1 points in the second quarter of 2017. Meanwhile, the Terraced House Price Index accelerated from 102.1 points in 2010 to 186.7 points in 2017, while the High-rise Price Index increased to 197.8 points in 2017 from 99.5 point in 2010.These indices show a worrying trend, especially for young adults and growing families looking to buy their own homes, more so for the low-income group.
According to a Bank Negara Malaysia report, only 21% of new residential properties were priced below RM250,000 in 2017. There is a clear mismatch between demand and supply of homes in some sectors.
MediaTitle: The Edge
Date: 25 Mar 2019