Home prices in Malaysia have continued to rise, albeit at a slower pace. This is attributed to a GDP growth slowdown to 5.1 percent in 2011 from 7.2 percent in 2010, according to a report by the International Business Times.
The national house price index decreased to 6.1 percent (3.7 percent in real terms) in Q1 2012, from 8.9 percent (5.9 percent in real terms) over the same period in 2011, as reported by the Valuation and Property Services Department (JPPH). It also noted that the average home price stood at RM219,219 at year end.
The 2012 Property Market Report by C.H. Williams Talhar & Wong also expects home prices to moderate this year.
Moreover, Kuala Lumpur’s house price index also climbed six percent year-on-year to Q1 2012, as compared to the same period in 2011. Home prices also rose in Johor (0.2 percent), Negeri Sembilan (1.6 percent), Perak (4.2 percent), Pulau Pinang (5.2 percent) and Selangor, with 8.9 percent growth.
Quote from Property Guru News 3 July 2012
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