Property market sees growth and resilience, property counter records 600% appreciation in share price, says Nga

• “The Malaysia property market in 2024 is expected to be stable and continue growing in the next three years, supported by various initiatives outlined by the MADANI Government under Budget 2024.”

KUALA LUMPUR (June 6): Malaysia’s property market has demonstrated significant growth and resilience, with an individual property counter experiencing up to 600% growth in share price appreciation.

This was revealed by Housing and Local Government (KPKT) Minister Nga Kor Ming (pictured) in a media release today about his views of the property segment.

“The Malaysia property market in 2024 is expected to be stable and continue growing in the next three years, supported by various initiatives outlined by the MADANI Government under Budget 2024,” said Nga.

As for the property counters in Bursa Malaysia, 76 out of 100 experienced an increase in share price, 22 counters showed a decrease in share price, two counters maintained their share price despite fluctuations.

KPKT mentioned that case in point is DPS Resources Bhd which experienced 600% growth in share price, while UEM Sunrise Bhd saw a 347.06% increase, and WMG Holdings Bhd showed 326.31% growth from January 2023 to June 2024.

“This positive trajectory is expected to continue into the second half of 2024,” said KPKT.

Growth in transactions

Malaysia's property market transactions were valued at RM42.31 billion, with more than 89,000 transactions recorded in the first quarter (1Q) of 2023.

Meanwhile, in 1Q2024, property market transactions reached RM56.53 billion, with more than 104,000 transactions, marking an increase of RM14.22 billion in terms of value.

“This significant growth indicates that Malaysia's property market is recovering well and on the rise,” stated KPKT.

“I firmly believe that under the leadership of our Prime Minister Datuk Seri Anwar Ibrahim, our property market has a bright future in the coming years.

“We must work together to enhance our industry’s reputation and increase the confidence level of investors to make the property market even more resilience," said Nga.

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