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KUALA LUMPUR: The Malaysian property market registered transactions worth an estimated RM75.42 billion last year and the market is expected to improve further in 2010 in line with the country's economic recovery.
The transactions involved 337,990 properties compared with the 340,240 valued at RM88.34 billion in 2008, said the director general of Valuation and Property Services Department, Finance Ministry, Datuk Abdullah
Thalith Md Thani.
He said the challenging economic and financial environment had affected the overall performance of the Malaysian property market last year.
"2010 will be a good year for all. The property market for this year will improve as the number of transactions involving new housing and construction activities increase," Abdullah Thalith told reporters at the Third Malaysian
Property Summit 2010 on Tuesday Jan 26.
He pointed out that the economy is on the recovery path driven primarily by domestic demand, with commodity prices for rubber, crude oil and palm oil also improving. These, he said would increase consumer confidence among consumers and provide a positive impact for the property sector."The demand for properties is returning," he added.
Abdullah Thalith said the government would continue to implement appropriate measures to restore confidence and market sentiment. The liberalisation of Foreign Investment Committee (FIC) guidelines would increase the competitiveness of Malaysia, as a preferred investment destination. -- Bernama
The transactions involved 337,990 properties compared with the 340,240 valued at RM88.34 billion in 2008, said the director general of Valuation and Property Services Department, Finance Ministry, Datuk Abdullah
Thalith Md Thani.
He said the challenging economic and financial environment had affected the overall performance of the Malaysian property market last year.
"2010 will be a good year for all. The property market for this year will improve as the number of transactions involving new housing and construction activities increase," Abdullah Thalith told reporters at the Third Malaysian
Property Summit 2010 on Tuesday Jan 26.
He pointed out that the economy is on the recovery path driven primarily by domestic demand, with commodity prices for rubber, crude oil and palm oil also improving. These, he said would increase consumer confidence among consumers and provide a positive impact for the property sector."The demand for properties is returning," he added.
Abdullah Thalith said the government would continue to implement appropriate measures to restore confidence and market sentiment. The liberalisation of Foreign Investment Committee (FIC) guidelines would increase the competitiveness of Malaysia, as a preferred investment destination. -- Bernama
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