THE value of property transactions rose to RM82bil in the first six months of 2014 compared with RM68.8bil in the same period last year, while the volume of transactions increased 3.3% to 193,405 during the period.
Residential property transactions made up 63.5% of the total transactions although the number of housing transactions fell by 2.7% in the first six months this year as a result of market cooling measures imposed by the Government in January.
While Johor and Penang saw a 17.5% and 2.7% increase in the volume of residential transactions, respectively, Kuala Lumpur recorded a 4.8% drop and Selangor saw a 2.1% contraction.
The overhang of housing units dropped by 11.5% to 12,105 units valued at around RM4.5bil.
The Malaysian House Price Index (MHPI) measuring change in prices paid for an average house rose at a slower pace of 6.6% in the second quarter of 2014, which was the lowest quarterly rate of increase since the third quarter of 2010. - The Star
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