THE Valuation and Property Services Department (JPPH) has projected a more stable property market in 2019 as preliminary data suggests that the value and volume of transactions are on an upward trend.
JPPH director Md Badrul Hisham Awang said preliminary data gathered by the National Property Information Centre (Napic) indicates a 5.1% year-on-year (YoY) increase in value for the first quarter of this year (1Q19) to RM36.97 billion from RM35.17 billion in 1Q18.
The volume of transactions has also risen by 6.9% over the same period. However, reasons for the uptick have not been determined.
Speaking to reporters after the launch of Napic’s 2018 Property Market Report in Kajang on Tuesday, Md Badrul Hisham said the increase could be attributed to the government’s initiatives, such as the Home Ownership Campaign 2019 and stamp duty waivers for first-time homebuyers.
Media Title: The Malaysian Reserve
Date: 2 May 2019