- The 1998 property market lacked the
vibrancy of the previous years. Total number of transactions
dropped 38.7% to 8,876 from 14,475, compared to the 8.6%
increase in 1997.
- Total value of transactions also decreased
by 35.2% compared to the last year's increase of
36.6%.
- All property sectors registered significant declines in
transactions" development land 56.7%, agricultural 55.8%,
industrial 54.0%, retail 48.9% and residential 31.6%.
- The residential sector was the most active
with 7,008 transactions, or 79.0% of the total
transactions.
- The first quarter of the year saw a busy
market with 3,453 transactions. Activity gradually reduced to
2,753 and 2,688 transactions respectively in the second and
third quarters of the year.
- The reduced activity was mainly due to the
cautious attitude of prospective purchasers held back by fear of
unemployment in a contracting economy which experienced a
negative growth of -4.8% during the first half of the
year.
- Most housing schemes concentrated on affordable units
which constituted 78.7% of the total number of
transactions. Of the 26 newly- launched
housing schemes during the year, only two schemes offered units
priced above RM150,000.
- The retail scenario saw a 50.2% decline in
the total number of transactions, the lowest recorded in four
years.
Negeri
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