Version: CN
The Malaysia property market is looking more promising than ever before!
If 2022 wasn’t good enough, 2023 showed even better numbers, according to Malaysia’s National Property Information Centre (NAPIC)‘s Property Market Activity and Status reports for 2023.
How did the Malaysia property market scene do in 2023?
Let’s find out below!
Malaysia Property Market 2023 Highlights
1. Summary
2023 saw an increase of 2.54% in property transaction volume, reaching almost 400k transactions.
The property market saw a transaction value of RM196.83 billion, an increase of 9.91% compared to the previous year.
2. Transaction Value By Sub-sector
2023 showed a total of RM196.83 billion in total transaction value.
The highest contributor was the residential sector, bringing in a total of RM100.93 billion, followed by the commercial sector with a value of RM38.31 billion.
| Residential | RM100.93 billion |
| Commercial | RM38.31 billion |
| Industrial | RM23.94 billion |
| Agriculture | RM18.67 billion |
| Development land & others | RM14.99 billion |
3. Transaction Volume By Sub-sector
2023 saw a total of 399,008 transactions, an increase of 2.5% compared to the previous year.
The highest contributor was the residential sector, bringing in a total of 62.8% of the total transaction volume, followed by the agriculture sector with 19%.
| Residential | 250,586 units |
| Commercial | 40,463 units |
| Industrial | 8,157 units |
| Agriculture | 75,670 units |
| Development land & others | 24,132 units |
4. Transaction Volume: Year-on-Year (Y-o-Y) Change
The volume of transactions in 2023 had a small jump compared to the previous period, with a growth of 2.5% at 399,008 transactions.
The previous period, 2022 showed a number of 389,107 transactions.
5. Newly Launched Residential Units
In 2023, there were a total of 19,733 residential high-rise units launched, as well as some 36,793 units of landed homes, making up a total of 56,526 units.
From this total, 7,284 units of high-rises and 15,577 units of landed homes were sold, comprising 36.9% and 42.3% of the total units respectively.
In total, 22,861 units were sold, at 40.4% of the total number of units. This was an increase compared to 19,497 units in 2022.
Conclusion
Landed homes seem to be on the rise, and contrary to popular belief, the property industry is still growing as we speak.
What are your thoughts? If you’re thinking of investing in property, this may be the best time to do so.
From residential to agricultural properties, IQI has a team that’s ready to help you with your real estate needs. Drop us your details to receive a consultation on your next investment!
Continue reading:
1. The Best Time To Rent Out Your Property is Now: Key Highlights From IQI’s Q4 2023 Rental Report
3. Housing affordability concern among property in Malaysia seekers, what does it mean for investors?
