Share
PETALING JAYA (Oct 27): The non-residential property subsector grew by 4.9% to RM6.4 billion in the first half of 2017 (1H17), according to the “Economic Report 2017/2018”.
This growth was due to the rebound in starts for shops (29.3%, compared with a 46.7% contraction in 1H16 and serviced apartments (14%, compared with a 35% contraction in 1H16).
“However, construction starts in the industrial and small office home office (SoHo) declined 9.7% and 16.1% respectively (1H16: -76.7% and -24.9%), mainly due to moderation in the O&G-related industries,” it said.
* Budget 2018 highlights
* Residential take-up rose in 1H2017
* Residential overhang growth almost doubles in 1H17
* Average home prices rose in 1H17
* Shop overhangs shot up 54.3% to 7,754 units in 1H17
* Purpose-built Office Rental Index continues uptrend in 2Q17
* Residential property loans grew to 8.8% of household debt as at July 2017
* Household debt repayment capacity remains strong as at end-July 2017
* Housing development expenditure likely more than halved in 2017
* Rail transport to drive connectivity
The report also noted that the planned supply of purpose-built offices (PBO) shrank by 6.1% to 972,995 sq m from 1,036,671 sq m a year ago, but construction starts for PBO remained at 277,776 sq m.
TOP PICKS BY EDGEPROP
Impian Bukit Tunku
Kenny Hills (Bukit Tunku), Kuala Lumpur
Elmina Business Park
Sungai Buloh, Selangor
Seksyen 11, Kota Damansara
Kota Damansara, Selangor
An Affordable ID Home To Own And Enjoy
Bukit Jelutong, Selangor
Subang Perdana Goodyear Court 10
Subang Jaya, Selangor
The Sanctuary
Kenny Hills (Bukit Tunku), Kuala Lumpur
The Sanctuary
Kenny Hills (Bukit Tunku), Kuala Lumpur
Menara Bintang Goldhill
Bukit Bintang, Kuala Lumpur
