Did government policies effectively boost the property sector?

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Government Policies Show Positive Impact on Property Sector Performance

Government policies aimed at stimulating the property industry have demonstrably led to a positive increase in residential property transactions. Between January and September of this year, the primary residential property market alone recorded RM14.65 billion in transactions, exceeding the total value of RM12.91 billion for the entirety of 2018. This upward trend is further evidenced by figures for the first half of 2019, which saw a total of 99,922 transactions, an increase from the 94,200 recorded in the corresponding period of 2018.
Primary Market Transactions Surpass Previous Full-Year Value

The primary residential property market, which comprises newly completed properties sold directly by developers, has shown significant growth. From January to September this year, the transaction value reached RM14.65 billion. This figure alone surpasses the total transaction value of RM12.91 billion recorded for the entire year of 2018, indicating a substantial uplift in activity.
First Half of 2019 Shows Broad Market Gains

In the first half of 2019, both the primary and secondary property markets experienced an increase in activity compared to the same period in 2018. The primary market saw 17,165 transactions valued at RM9.96 billion, an improvement from 15,179 transactions worth RM6.18 billion in the first half of 2018. Concurrently, the secondary market, dealing with pre-owned properties, recorded 82,757 transactions totalling RM27.69 billion, up from 79,021 transactions worth RM25.48 billion in the first half of the previous year.
Total Transaction Value Reflects Market Improvement

The overall value of residential property transactions in the first half of 2019 reached RM34.65 billion. This represents a notable increase from the RM31.66 billion recorded during the first six months of 2018. This aggregate figure further supports the assertion that policies implemented by the Housing and Local Government Ministry and the Finance Ministry have been effective in galvanising the property sector.
Proactive Consultations Behind Policy Effectiveness

The effectiveness of these policies is attributed, in part, to proactive consultations with stakeholders within the property sector. By engaging with industry players, the Housing and Local Government Ministry and the Finance Ministry have been able to formulate strategies that have resonated with the market. This collaborative approach has contributed to the observed positive trend, with expectations that this momentum may continue through to the end of the current year.

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Did government policies effectively boost the property sector?

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