The property transaction numbers for Malaysia were announced just a few days ago. Positively, we had a good 2019. Overall number of property transactions for 2019 was higher than 2018. In case you do not know, the total property transactions for year 2018 was already a better year than 2017 even if it was only marginally higher then. Do take a look at the chart below for a good overview quarter by quarter basis all the way back to 2014! (Thank you Raine & Horne International Zaki & Partners Sdn Bhd senior partner Michael Geh for these charts)
The total property transactions in Malaysia for the whole of 2019 is 328,647 units worth RM141.40 billion compared to 313,710 units worth RM140.33 billion in 2018, showing an increase of 4.8% volume and 0.8% in value. This is total for all properties, not just the residential ones yeah.
By the way, a 4.8% rise in volume and just a rice of 0.8% in value meant that the price of properties transacted in the whole of 2019 is rising very slowly. In fact average property price transacted would have shown a decline too. In brief, buyers are buying cheaper properties instead. So, is this happening to the residential property transactions as well? Let’s look at the image below then. In brief, positive trend as well; going up.
The total transactions for RESIDENTIAL properties in Malaysia for the whole of 2019 is 209,295 units worth RM72.42 billion compared to 197,385 units worth RM68.75 billion in 2018, showing an increase by 6.0% in volume and 5.3% in value. Owners / developers may have sold their properties at a slightly lower average price instead.
What buyers may not prefer is to have value of transactions going up higher than the volume yeah. Fortunately this did not happen. In fact, the transactions would have shown a slight decline in the average value of the transacted properties. 2020 is not going to be a great year for businesses and working professionals. Thus, property prices should preferably stay almost the same…?
Happy noting that the final two quarters of 2019 actually show a positive rising trend yeah. Some may say this showed the property market was recovering. Well, some would also argue it was due to the effects of Home Ownership Campaign (HOC) instead. Just remember that when it comes to property, find a good one then buy and wait. Do not wait to buy because that time may never come. Happy following.
Please LIKE kopiandproperty.my FB page or Sign Up for free to get daily updates about the property market. Else, follow me on Twitter here.
Next suggested article: Property sector recovery starts in Q4 2020?
Leave a Reply