Business

Home sales activity rose nearly 20pc in 2011

By Lee Wei Lian
April 03, 2012

KUALA LUMPUR, April 3 — Residential property transactions rose 18.9 per cent last year while the transaction value jumped 22.1 per cent to RM61.83 billion, the highest in five years, said the National Property Information Centre (Napic) today.

The residential sector led the overall property market with a 62.7 per cent share of total transaction activity last year or 269,789 transactions.

Four states and territories saw growth in transactions while three saw declines.

The four fastest growing states were Penang, Johor, Kuala Lumpur and Selangor which saw transactions rise 68.2 per cent, 15.7 per cent, 14.4 per cent and 8.5 per cent respectively.

The four states that saw transactions decline were Terengganu, Sabah and Sarawak which saw activity drop 0.8 per cent, 3.2 per cent and 3.5 per cent respectively.

Selangor had the largest share of transactions in the country at 27.9 per cent of 75,344.

Houses priced below RM150,000 contributed to 54 per cent of transactions.

Properties priced between RM250,000 and RM500,000 accounted for 16.4 per cent of transactions while properties priced above RM500,000 grew from 16,782 in 2010 to 21,905 in 2011.

Sales performances of new launches improved slightly to 46.3 per cent from 45.7 per cent the previous year.

Melaka had the best performance in terms of take up rate with 69 per cent followed by Pahang (59.6 per cent), Kuala Lumpur (52.8 per cent) and Negeri Sembilan (51.2 per cent).

Supply of planned new homes grew to 117,291 last year from 81.238 in 2010.

Selangor led in new planned supply with 20.4 per cent of the national total or 23,899 units.

As at the end of 2011, there were 4.51 million existing residential units in Malaysia with another 584,546 incoming units in the pipeline.

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