Property transactions dip, but house prices continue to rise

April 23rd, 2014 No comments

Last year saw 246,225 residential property transactions worth RM72bil.

The various cooling measures on the property sector dampened transactions last year, with the volume of properties bought and sold dipping by 10.9% from 2012, even as total value rose 6.7%, a sign that prices did not come down.

According to the Property Market Report 2013 released by the Valuation & Property Services Department, there were 381,130 transactions in the country in 2013 compared with 427,520 the year before, although their value climbed to RM152.37bil from RM142.84bil.

The all house price index edged up to 192.9 against 172.8, and all house prices to an average of RM266,304 from RM241,591.

The residential subsector retained the lion’s share of the market at 64.6% of volume and 47.3% of value.

This was buoyed by the prevailing low interest rate environment on the back of a base lending rate of 6.53% and weighted average lending rate of 5.4%.

Last year saw 246,225 residential property transactions and worth RM72.06bil, which declined 9.7% and rose 6.3%, respectively.

There was a slight decrease in the sales of new launches but the number of overhang properties also dipped.

In the primary market, new launches shrunk after three consecutive years of growth, with 48,617 units of new launches rolled out from 57,162 in 2012. Some 45.1%, or 21,904, of these units were sold.

Five states exceeded the national average take-up, of which three – Putrajaya, Selangor and Pahang – surpassed the 55% mark.

In terms of units launched, Johor, Selangor and Perak topped the list with 20.9%, 13.5% and 11.85 of the national total.

Terraced units made up the bulk of the new launches with 47.8% comprising 9,080 single-storey terraces and 13,273 two to three-storey units.

Condominiums and apartments contributed to 19.1% or 9,265 units. The sales of both these categories stood at 50.9% and 44.8%, respectively.

In terms of value, the Valuation Department said most states saw a downturn in market activity save for Johor, which grew by 16.6%.

Transaction volumes in Putrajaya fell the most by 41.7%, and Kelantan 34.6%, a reversal of its 93.6% growth in 2012. This was followed by Kuala Lumpur (-34.4%), Labuan (-33.9%), Penang (-23.9%) and Selangor (-14.3%).

By market share, Selangor outpaced the other states, contributing to 26.1% of all residential transactions. Johor was next at 13.7%, followed by Perak, Penang and Kedah.

In terms of value, only Kuala Lumpur saw a contraction in value of 9.7%. Johor posted the best growth of 63.2%, Selangor grew 2.8% and Penang saw no growth. Perlis, however, shot up 80.7% from the previous year.

The report said the different market segments as measured by price indicated a divergent scenario.

Transactions in the lower-price range softened last year. Compared with 2012, the market activity of homes in the RM100,000 to RM150,000 and RM150,001 to RM200,000 bracket fell 26.6% and 17.9%, but the RM250,001 to RM300,000 range climbed by 23.2%.

Houses priced between RM100,001 and RM300,000 were the most active, capturing the largest share of the market at 42.9%.

Housing approvals fell sharply by 22.5% from an expansion of 47.4% in 2012, while total loans disbursed for the purchase of residential properties increased to RM74.4bil from RM64.1bil.

Deputy Finance Minister Datuk Ahmad Maslan told reporters after the launch yesterday that the goods and services tax, which comes into effect next April, was not expected to raise house prices significantly as the tax was exempted on the home itself.


Categories: Property News Tags:

Juru Light Industry Factories

April 22nd, 2014 1 comment

8 units of light industry factories located in the heart of Juru Industrial Park. It is only a mere minutes drive to Juru Autocity with easy access to North-South Highway via Juru interchange. All the industrial units come with a built-up area of 10,900.96 sq.f.t..

Property Project : Juru Light Industrial Factories
Location : Juru, Penang
Property Type : Industrial factory
Tenure : Freehold
Built-up Area: 10,900 sq.ft.
Land Area: 12,421 sq.ft. onwards
Total Units: 8
Indicative Price: RM 2,788,888 onwards
Developer : Harta Klasik Sdn. Bhd.
Contact No: 016-441 8300

Location Map:

Categories: Juru Tags:

Teres 23

April 21st, 2014 6 comments

Teres 23, part of Dutamas Residence development by Jayamas Property Group in Bukit Mertajam, Penang. It comprises 23 units of 2-storey terrace houses with 3 designs types. The smallest unit has a land area ranging from 1,200 sq.ft. onwards.

Property Project : Teres 23
Location : Taman Tan Sai Gin, Bukit Mertajam
Property Type : 2-storey terrace house
Total Units : 23
Land Tenure: Freehold
Developer : Jayamas Property

Location Map:

Categories: Bukit Mertajam Tags:

Condo project gets great response

April 21st, 2014 1 comment

Strategic location: Chua (left) and co-director Lee Lek Chai looking at a model of the newly launched Delima Emas Condominium project at their office in Taman Seri Delima, Juru.

ALMOST 40% of the 198 Delima Emas Condominium units in Juru, Bukit Mertajam, have been sold, three weeks after the project’s soft launch.

Property development E.W. and Associates Sdn Bhd director Chua Eng Kee said response to the project was good with some 80 units had been snapped up.

“One of the selling points is the project’s location which is a mere three-minute drive from Juru Auto-City.

“It is also a cheaper alternative for Penangites as it has various layouts and capacities for different family needs,” he said when met at the project’s launching in Taman Seri Delima, Juru, on Saturday.

The units, with built-up areas of 1,090sq ft to 1,604sq ft, are priced between RM345,000 and RM588,000.

Each unit will have minimum three bedrooms.

The two 10-storey blocks will have amenities such as a children’s playground, swimming pool, open and covered car parks, guardhouse, three lifts per floor, card access system and gym.

Chua also expected the price of the units to skyrocket in the future since it is only a 10-minute drive from the Penang Bridge and the second link.

“This area has the potential to grow due to the development plans for Batu Kawan.”

For more details on the project, call 04-5073455.


Categories: Property News Tags:

Nadayu plans RM1.5bil projects, four in Klang Valley one in Penang

April 21st, 2014 No comments

PETALING JAYA: Nadayu Properties Bhd, which has just completed its privatisation exercise, aims to launch five projects with a combined gross development value (GDV) of RM1.5bil this year.

Executive chairman Hamidon Abdullah said the company had lined up four projects in the Klang Valley and one in Penang to be launched in phases.

“It would be a busy year for us as we will also be focusing to redefine our products,” he told StarBiz after the company’s inaugural homebuyers’ site visit to its Nadayu28 Bandar Sunway on Saturday.

“The competition is getting tough, developers are chasing for buyers, hence that is why our emphasis for this year is to redefine our products as well as keeping a close relationship with our customers,” he said.

He said the site visit for house buyers was part of the company initiatives to understand its customers and to allow housebuyers to provide their feedback on the units constructed.

The niche property developer will be launching Nadayu62 and Nadayu63 in Melawati, Nadayu99 in Cyberjaya, Nadayu290 Bukit Gambir in Penang and the first phase of Areca Contempo Homes, Cyberjaya, this year.

The Areca Contempo Homes is developed by Nadayu’s sister company Areca Properties Sdn Bhd.

All the projects will have an equal mix of landed residential properties and high-rise units, comprising condominiums, serviced apartments and hotel, linked villas and small-office-home-offices (SoHos).

Hamidon said most of the properties weare expected to be priced between RM400,000 and RM600,000.

He noted that while there was a slight slowdown in demand due to various measures introduced by Bank Negara to curb lending to the property sector, the company’s take-up rate remained strong.

“We are a medium-sized developer, hence we are very focus in our delivery,” he said, adding that the company aimed to buy more land in the Klang Valley and Penang next year. It is currently in both of these markets.

“We plan to focus on all our projects lined up for this year; only then will we look to expand land bank,” he said.


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