Property market recovering well, says minister
The strength of Malaysia’s property market recovery can be seen in both the transaction volume and value as well as property stocks, said Housing and Local Government Minister Nga Kor Ming. He said in a statement yesterday of 100 property counters on Bursa Malaysia, about 76 saw an increase in their share prices, 22 experienced a decrease and two remained stable. “For instance, DPS Resources Bhd experienced a 600 per cent growth in its share price, UEM Sunrise Bhd saw a 347.06 per cent increase and WMG Holdings Bhd showed a 326.31 per cent growth from January last year to this month,” he said in a statement. In the first quarter of this year, property market transactions reached RM56.53 billion, with more than 104,000 transactions, marking an increase of RM14.22 billion in terms of value. In the first quarter of last year, there were over 89,000 transactions worth RM42.31 billion. “This significant growth indicates that Malaysia’s property market is recovering well and on the rise,” said Nga. On the outlook, he said the property market had a promising future under the leadership of Prime Minister Datuk Seri Anwar Ibrahim. “We must work together to enhance our industry’s reputation and increase the confidence level of investors to make the property market even more resilient.” Nga said the property market was anticipated to remain stable this year and continue growing over the next three years, bolstered by initiatives from the Madani government outlined in the 2024 Budget.
This significant growth indicates that Malaysia’s property market is recovering well and on the rise.
NGA KOR MING Housing and Local Government Minister