While the current environment of once-again eased restrictions offers room for improvement in Q2 2021, the property market is expected to put in a mixed performance for the duration of the year while pandemic-related uncertainties persist.
With the availability and rolling out of the COVID-19 vaccine throughout the country, the National Property Information Centre expects the property market to experience a boost in the second half of 2021.
Furthermore, consumer sentiment will likely improve in tandem with an increased vaccination rate as the year progresses.
Property Transactions
- The total volume as of Q1 2021 was 80,694, with a value of RM 32.12 billion
Read more;
What You Need to Know About Malaysia’s Covid-19 Vaccine Program 2021
Juwai IQI Newsletter – Real Estate Market – June 2021
Construction Activity
- There were 3 types of development in construction done in Q1 2021 – residential (landed and high rise), service apartments and commercial units (shops).
- A total of 17,550 units have been completed, 40,766 have started and 15,181 in the planning.
Malaysian House Price Index
- While the average price of the property types (terraced, high rise, semi-detached, detached) has decreased between -0.1% to -0.8%, the numbers are still strong compared to Q4 2020.
What to look forward to in Q2 2021?
- The HOC extension in 2021 means that buyers still have access to attractive financing incentives.
- The rise of affordable homes priced at RM500,000 and below are expected to dominate the market in the coming months.
- The various major infrastructure projects, be it completed or in the progress – the East Klang Valley Expressway, the Rapid Transit System, Kulai Iskandar Data Exchange projects in Johor, the East Coast Rail Link and Pan Borneo Highway in East Malaysia.
- The growing tech evolution in the property sector – offering more solutions to the property selection and decision-making process for home seekers.
Source: National Property Information Centre
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