18-08-2014, 07:12 AM
http://www.businesstimes.com.sg/premium/...t-20140818
PUBLISHED AUGUST 18, 2014
Data shows slowing M'sia property market
Most states record drops in transactions for the different sub-segments
Capital slump: According to Napic data, property transactions in Kuala Lumpur are down 13.4 per cent in the first quarter compared to the last quarter of 2013. - PHOTO: BLOOMBERG
[KUALA LUMPUR] The National Property Information Centre (Napic), in its first-quarter numbers for this year, has confirmed reports that the market is consolidating with transactions slowing down, The Star has reported.
Although the findings are six months backdated, the government agency's figures, which includes both primary and secondary sales, are about as accurate as one can get about the state of the sector, down to how many transactions being done.
Most states recorded overall drops in the number of property transactions for the different sub-segments, namely, residential, commercial, industrial, agricultural, development land and others. The trend of decrease is definitively evident, the report said.
Siders Sittampalam, president of the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector, told the daily that he was not surprised by the latest property data. "It confirms what I said, that the Malaysian property market is consolidating. It is not a slump which is characterised by oversupply and declining prices."
PUBLISHED AUGUST 18, 2014
Data shows slowing M'sia property market
Most states record drops in transactions for the different sub-segments
Capital slump: According to Napic data, property transactions in Kuala Lumpur are down 13.4 per cent in the first quarter compared to the last quarter of 2013. - PHOTO: BLOOMBERG
[KUALA LUMPUR] The National Property Information Centre (Napic), in its first-quarter numbers for this year, has confirmed reports that the market is consolidating with transactions slowing down, The Star has reported.
Although the findings are six months backdated, the government agency's figures, which includes both primary and secondary sales, are about as accurate as one can get about the state of the sector, down to how many transactions being done.
Most states recorded overall drops in the number of property transactions for the different sub-segments, namely, residential, commercial, industrial, agricultural, development land and others. The trend of decrease is definitively evident, the report said.
Siders Sittampalam, president of the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector, told the daily that he was not surprised by the latest property data. "It confirms what I said, that the Malaysian property market is consolidating. It is not a slump which is characterised by oversupply and declining prices."
