KUALA LUMPUR: Malaysia’s property market continues to grow at a steady pace, with the total transaction value expected to exceed RM250 billion this year, said Housing and Local Government Minister Nga Kor Ming.
The minister noted that the total transaction value in Malaysia’s property market has been climbing steadily, from RM196.8 billion in 2023 to RM232.3 billion in 2024. "Malaysia’s property market continues to grow at a steady pace, with no signs of a bubble. Total property transactions have improved consistently over the past three years, reflecting healthy market conditions rather than speculative activity,” he said in a statement.
According to the Department of Statistics Malaysia, the homeownership rate in Malaysia currently stands at 76.5 per cent, surpassing other developed countries, including Australia, the United Kingdom, the United States, and Germany.
To further boost homeownership, Nga said the government’s priority is to raise income levels, adding that direct price controls are not feasible in a free market. "The government under the leadership of Prime Minister Datuk Seri Anwar is actively attracting more foreign direct investments into the country,” he added.
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