KUALA LUMPUR: Property market activities registered the highest increase in five years, recording a 14.3% increase in transactions to 430,403 and a 28.3% rise in value to RM137.8bil last year.

Deputy Finance Minister 1 Datuk Donald Lim Siang Chai said: "The property market showed a better performance in 2011 in line with the strong economic growth supported by various proactive steps by the government. "Property transactions increased to 430,403 while values rose 28.3 per cent to RM137.8bil. The figures are the highest recorded in the last five years."

Lim said this in his speech at the launch of the Property Market Report 2011 and Property Information System Malaysia (PRISM-JPPH) by the Valuation and Property Services Department of the Finance Ministry, here today.

He said the residential sub-sector spearheaded the overall property market, controlling 62.7% of total transactions and 44.9% of value. "Almost 50,000 units were launched in the market, of which 22,000 units were sold recording sales at 46.3%," he said.

Affordable housing costing below RM250,000 recorded the highest demand for properties making up 45 per cent of new launches, he added.

In the commercial sub-sector, national occupancy rate for purpose-built office was more than 80 per cent while take-up space remained positive at 250,000 sq metres. Forty new office buildings entered the market last year.

Overall, Lim said property prices were stable with increasing trend recorded in certain locations.

The national house price index rose 6.6 per cent to 156.9 points in the fourth quarter (Q4) of 2011. Following this increase, the All House Price in Malaysia was at RM217,297 in Q4 last year.

Kuala Lumpur registered the highest in the All House Price at RM487,219 followed by Selangor at RM327,237. The average price for terraced houses in Kuala Lumpur and Selangor was at RM527,113 and RM325,951, respectively.

The government's plans under the 1Malaysia People Housing Scheme (PR1MA) to build affordabe housing and My First House Scheme for houses priced below RM400,000 were expected to stimulate the property market in those segments, Lim said.

Meanwhile, industry players were expected to give good response to the government's encouragement to undertake the build-then-sell concept for houses below RM600,000, he added.

On outlook for 2012, the property market report said overall the residential sub-sector will be sustained as higher housing starts and building plans approvals last year signify the confidence of developers and investors.

The vacant space in office and retail sub-sectors is foreseen to be absorbed as more space is taken up when the Economic Transformation Programme took place.

Development in various economic corridors and Greater Kuala Lumpur/Klang Valley would continue to give positive impacts on property development anf the market in teh coming years. - BERNAMA


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Malaysia's 2011 retail sales exceed RM83b
Published: 2012/03/10Share

MALAYSIAN retailers sold RM83.2 billion worth of items ranging from clothing to jewellery and food to souvenirs in 2011, as retail sales grew higher than the anticipated 8.1 per cent growth.

Nevertheless, the projected retail sales growth for 2012 will remain at six per cent translating into RM88.2 billion in value as the European debt crisis and job uncertainties linger and credit card spending reduces.

Retail Group Malaysia (RGM) tabulated retail sales numbers on behalf of the Malaysia Retailers Association (MRA).

The data did not take into account big ticket items like houses and cars.

The Malaysia Retail Industry Report this year showed that retailers remained optimistic of businesses for the first quarter of 2012 after chalking 11.5 per cent growth in the fourth quarter of 2011.


For the January to March 2012 period, retailers see sales rising by 12.1 per cent while RGM remains a little conservative and expects that retail sales will grow by a tenth.

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