iProperty.com.my officially released the full 2019 Portal Demand Analytics which provides an overview of subsale property demand using iProperty.com.my’s user visits and property listings data for residential subsale properties in Malaysia with a particular focus in KL, Selangor, Penang and Johor.
The publication shows that among the three property types, terrace houses emerged tops in 2019 in terms of capital appreciation with a 3.16% capital growth compared to 2018. Serviced residences, which recorded the highest demand growth in the first half of 2019, maintained its top position among the three property types, ending the year with a demand growth of 17.3% year-on-year. Condominiums recorded a turnaround with a 14.2% growth compared to -5.9% in the first six months of 2019.This can be partly attributed to a drop in the number of listings in the second half of the year. However, this property type registered the lowest capital growth percentage in 2019 at -2.02%.
As for Johor, the residential property landscape remains sluggish toward the end of the year. Johor is the only major state to register a negative growth in demand in 2019. Demand figures continue their downward trend at -12.2%. However, things are slowly turning around for the better as the demand figure for the first six months of 2019 was even lower at -16.6%. The poor performance can be attributed to a property oversupply. There has been an influx of property listings in the review period as a result of owners of numerous newly built properties having received their vacant possessions.
The analysis, with additional data compiled from brickz.my, aims to provide an insight for policy makers and property developers on Malaysian residential preferences.