News & Articles Rehda more upbeat about property market following Napic's latest report
Rehda more upbeat about property market following Napic's latest report
28 Feb 2025
KUALA LUMPUR: The Real Estate and Housing Developers' Association (Rehda) Malaysia expressed its positive outlook on the local property market following the recent launch of the National Property Information Centre's (Napic) Property Market Report 2024.
The report revealed that Malaysia's property transaction volume and value last year reached their highest levels in a decade.
The number of property transactions rose by 5.4 per cent to 420,545 in 2024, with transaction value climbing 18 per cent to RM232.3 billion, up from 399,008 transactions worth RM196.8 billion in 2023.The primary market experienced a notable 34.1 per cent increase to 75,784 units, achieving a sales performance of 37.3 per cent for the year.Additionally, the Malaysia House Price Index showed moderate growth of 3.3 per cent in 2024, with the average unit price reaching RM486,678.
Rehda president Datuk Ho Hon Sang attributed this achievement to the country's strong economic performance, increased loan approvals from financial institutions, and government initiatives promoting homeownership.
Ho expressed confidence that both the Federal and State governments will continue to support this upward trend by extending more incentives not only to homebuyers but also to industry players, including developers.
He also called for faster approval processes and the avoidance of unexpected taxes.
"We have been informed by member developers that the market activity in 2024 moved forward
confidently and positively, and we hope this will continue in 2025 and beyond," he said.
Rehda remains dedicated to its mission of encouraging members to support nation-building by delivering high-quality, affordable homes for Malaysians in a timely and sustainable manner.
The report revealed that Malaysia's property transaction volume and value last year reached their highest levels in a decade.
The number of property transactions rose by 5.4 per cent to 420,545 in 2024, with transaction value climbing 18 per cent to RM232.3 billion, up from 399,008 transactions worth RM196.8 billion in 2023.The primary market experienced a notable 34.1 per cent increase to 75,784 units, achieving a sales performance of 37.3 per cent for the year.Additionally, the Malaysia House Price Index showed moderate growth of 3.3 per cent in 2024, with the average unit price reaching RM486,678.
Rehda president Datuk Ho Hon Sang attributed this achievement to the country's strong economic performance, increased loan approvals from financial institutions, and government initiatives promoting homeownership.
Ho expressed confidence that both the Federal and State governments will continue to support this upward trend by extending more incentives not only to homebuyers but also to industry players, including developers.
He also called for faster approval processes and the avoidance of unexpected taxes.
"We have been informed by member developers that the market activity in 2024 moved forward
confidently and positively, and we hope this will continue in 2025 and beyond," he said.
Rehda remains dedicated to its mission of encouraging members to support nation-building by delivering high-quality, affordable homes for Malaysians in a timely and sustainable manner.
Source: NST.com.my
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Rehda more upbeat about property market following Napic's latest report