- The property market in 1998 showed a
decrease in terms of the number and value of transactions
compared to 1997 by 35.4% and 42.4%, respectively.
- The total number of transactions in 1997
were 10, 174, compared to 6,946 in 1998, whilst the total value
transacted in 1997 was about RMI,394.07 million, compared to
RM803.20 million in 1998.
- The residential sector continued to be the
most active sector in 1998, recording the highest number and
value of transactions.
- Total residential transactions were 56. 1 %
of the total volume, whilst total value transacted was 44.3% of
the total value.
- Affordable houses costing less than
RM75,000 enjoyed good demand. Prices of residential property
dropped between 1.4% and 26.0%, whilst rental values, on the
whole, decreased between 1.3% and 33.0%. Rentals of ground floor
shops dropped between 6.0% and 37.5%.
- Transactions of commercial properties
dropped by 58.5% compared to the marginal (0.7%) increase last
year, from 827 transactions in 1997 to 343 transactions in
1998.
- In terms of value of transactions,
development land recorded a decrease of 59,7% compared to the
134.6% increase last year, from RM317.21 million in 1997 to
RM127.98 million in 1998.
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