KAJANG, April 30 — The Malaysian property sector is looking perkier in the first quarter of 2019, National Property Information Centre (Napic) director Md Badrul Hisham Awang said today at the launch of the 2018 property market report here.
Based on Napic’s unofficial preliminary first quarter comparisons, Md Badrul said there was a 6.9 per cent increase in the number of transaction and a 5.1 per cent increase in the value of transactions for the first quarter of 2019 (1Q19) when compared to the same period last year (1Q18).
“Our unofficial, preliminary study shows an overall increase in the number of transaction for the entire market — commercial and residential — by 6.9 per cent and a 5.1 increase in value quarter-on-quarter (QoQ).
“1Q19 saw an unofficial total of RM36.9 billion worth of transaction when compared to 1Q18 at RM35.79 billion,” he told a news conference after the launch.
When asked if the government’s Home Ownership Campaign (HOC) had contributed to the overall increase, Md Badrul said it is still too early to tell.
He explained that they can only see the impact of the campaign once it is over in June this year.
Therefore, his centre will only be able to assess the HOC’s impact on the property sector in the third or fourth quarter.
