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Post date: Jul 02, 2012 12:17:26 PM
Home prices in Malaysia have continued to rise, albeit at a slower pace. This is attributed to a GDP growth slowdown to 5.1 percent in 2011 from 7.2 percent in 2010, according to a report by the International Business Times.The national house price index decreased to 6.1 percent (3.7 percent in real terms) in Q1 2012, from 8.9 percent (5.9 percent in real terms) over the same period in 2011, as reported by the Valuation and Property Services Department (JPPH). It also noted that the average home price stood at RM219,219 at year end.The 2012 Property Market Report by C.H. Williams Talhar & Wong also expects home prices to moderate this year.Moreover, Kuala Lumpur's house price index also climbed six percent year-on-year to Q1 2012, as compared to the same period in 2011. Home prices also rose in Johor (0.2 percent), Negeri Sembilan (1.6 percent), Perak (4.2 percent), Pulau Pinang (5.2 percent) and Selangor, with 8.9 percent growth.Prices of terraced houses, detached houses, semi-detached houses and high-rise units also increased 6.6 percent, 2.3 percent, 7.8 percent and 4.6 percent, respectively.
However, the number of new homes sold in 2011 dropped by 21 percent to 6,359 units from 2010. Aside from that, the number of new units launched also decreased in Q4 2011, when only 5,519 units were released. This is a 45.6 percent drop from Q3 2011 and down 62.3 percent from Q4 2010.
For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visithttp://www.propertyguru.com.my today.
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