Transactions gaining traction – property market has bounced back

The property market has bounced back in the volume of transactions for the first half of 2022. The total nationwide transactions stood at 188,002 units, resulting in RM84.40 billion in value, with the bulk of the transaction being, as usual, residential at 61.8% and agriculture at 22.18%. It is heartening to see that the residential sector contributed 54.1% of the transaction, or in monetary terms – RM45.62 billion. In comparison with the previous halves, the volume represents 34.5% of property transacted has gone up from the earlier years and a whopping increase of 62.4% since the corresponding half of 2020.

Following the transaction property timeline from 2022, a total of 115,476 units and 188,002 units show an increase of 72,526 units.

Likewise, the value of the transactions trend calculated from the first half of 2022 represents a slight increase of 36.1% from the previous year. However, from the first half of 2020, the property value transacted showed an elevation of 63.6% within a year. From the half of 2020 to 2022, the sales accumulated to RM84.40 billion in value, indicating an increase of RM37.46 billion.

From 2021 to 2022, properties under RM300K showed a resilient increase of 34.73% in units, while the price of properties between RM300K and RM500K managed a difference of 27.61% in units.

In conjunction, the property price range of RM500K to RM1 Million and an increase cumulatively of 39.9% and 43.3% units within the year. Overall, it is evident that developers have focused on houses below RM300,000, with a total of 114,902 compared to those above RM300,000.