Property launches recover in second half of 2017

by IZZAT RATNA / pic by AFIF ABD HALIM
 
Real Estate and Housing Developers’ Association Malaysia’s (Rehda) property survey for 2H17 revealed significant rise in the number of new launches for both residential and commercial properties. 
 
Based on the findings residential segment recorded the highest number of new launches with a 68% increase to 14,663 units compared to 8,743 units in 1H17 and 52% of the new units launched were homes priced at RM500,000 and below.
 
Residential units priced between RM500,001 and RM1 million category accounted for 41% of the launches. 
 
During the period, 6,664 units of residential properties were sold in 2H17 compared to 4,302 residential units in the preceding period.
 
Of these units, 2,779 units fell under the two and three story terrace category, mostly located in Puncak Alam and Teluk Panglima Garang Selangor.
 
Meanwhile, 1,295 units of serviced apartment were also sold during the final six months of 2017, largely purchased by first-time house buyers.
 
Rehda is a real estate association founded in 1970 comprising about 1,400 members with a combined built of more than four million housing units to-date and contributed in excess of RM20 billion annually to Malaysia’s gross domestic product (GDP).

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