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Strong Q1 showing in Malaysia’s property market as transaction volume, new projects rise

Publish date: Wed, 15 May 2024, 11:31 AM

KUALA LUMPUR, May 15 — The Valuation and Property Services Department (JPPH) said today the property market is rebounding after years of pandemic-induced slow down, with data showing strong growth in the first quarter of this year.

Over 104,000 transactions were recorded in the January to March period, registering a 17 per cent growth from the same period in 2023 and a 37 per cent growth in value (RM56.53 billion), the department said in a report released this morning.

Residential properties continued to dominate market activities, accounting for 60.2 per cent of total transactions, followed by agriculture at 20.5 per cent.

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