Malaysia's property transactions value hit RM105b in 1H 2024, highest in five years
Malaysia's total property transaction value exceeded RM105 billion in the first half of 2024 (1H2024) with 198,906 transactions recorded, the highest growth in value and volume seen over the past five years.
In Southern market
These initiatives include recent improvements to the Malaysia My Second Home (MM2H) programme, the development of the Johor-Singapore Special Economic Zone (JS-SEZ), and the establishment of a Special Financial Zone (SFZ) in Forest City.
It bring the positive growth The Southern Region property market performance registered 48,885 transactions worth RM28.76 billion, increased by 5.3% and 31.0% in volume and value, respectively, as compared to H1 2023.
Property market performance in Johor increased by 28.4%, followed by Johor 9.0%. Meanwhile Negeri Sembilan shown slightly down at 18.2%.
For the Rental Market
The residential rental market in the Southern Region was generally stable and showing improvement.
Rentals firmed up in prominent choice locations mainly due to tenancy renewals, rental reviews, and good infrastructure and amenities.
A two-storey terrace house in Bandar Layangkasa, Johor Bahru recorded the highest average rental change in the region of 30% (RM1,000 per month to between RM1,000 and RM1,600 per month) due to located frontage road of the Senai - Desaru Expressway, facilitates access and becomes a focus area as well as in high rentals demand. Meanwhile, in Negeri Sembilan and Melaka as a whole it was stable during the review period.
Overall, the property market is in positive outlook and growth. The infrastructure and econimic policy play an important role in the property market.
Soruce:
1. SOUTHERN REGION PROPERTY MARKET REPORT First Half 2024, NAPIC
2. NST, by Diyana Isamudin -
Singapore