IN A NUTSHELL
12
STABLE GROWTH FOR MALAYSIAN REAL ESTATE
Figure 11: Percentage Movement In Number of Property Transactions by Selected State and Sub-sector, Jan - Dec 2010
by Hazrul Izwan The Malaysia Property Market Report 2010 launched recently by National Property Information Centre (NAPIC) reported that most of the sub-sectors enjoyed positive growth, registering 376,583 transactions worth RM107.44b in the market last year. As evidence of the proactive measures taken by the Goverment to grow the economy, the percentage movement momentum for Malaysian real estate continued to record positive results in all four quarters in 2010. Based on the Report, the commercial sector registered double digit growth of 19.4% in transaction volume compared with 5% in 2009. The performance of shopping centres consolidated in the review period and the purpose built-office sector remained promising. The national occupancy rate for purpose built-offices managed to remain above the 80% mark. On a similar note, the industrial, development and agriculture sectors also charted positive growth exceeding 15%. The residential property sector, however, contracted 2.4% compared to 2009. However, the sector still displayed a stable take-up rate. Interestingly, the Report made positive mention of Malaysia Property Incorporated’s efforts to market the country’s real estate internationally. On the local front, it commended the Real Estate and Housing Developers Association for actively promoting home ownership throughout 2010. A total of 47,698 residential units were offered for sale, higher than 45,909 units offered last year. Figure 10: Properties Transacted By Sub-Sector, 2007-2010
Volume and value of transactions
Units (‘000) 250
309,455
340,240
337,859
376,383
RM77.14b
RM88.34b
RM81.02b
RM107.44b
MALAYSIA
Residential +7.2 Commercial +19.4 Industrial +22.1 Agriculture +16.8 Development +20.8 KUALA LUMPUR
Residential +5.2 Commercial +22.7 Industrial +9.2 Agriculture n/a Development -8.6 SELANGOR
Residential +7.3 Commercial +30.8 Industrial +15.7 Agriculture +17.0 Development +15.0 PENANG
Residential +10.9 Commercial +24.5 Industrial +9.4 Agriculture +37.2 Development +13.2 JOHOR
200
Residential +4.0 Commercial +19.8 Industrial +38.1 Agriculture +10.5 Development +28.1
150 100 50
Legend:
2010
2009
2008
2007
SABAH 0
Residential
Agriculture
Commercial
Development
Industrial
Source: NAPIC, MPI Research
Residential -12.3 Commercial -6.3 Industrial -10.8 Agriculture +3.9 Development +13.0