Continuing to help Malaysians make more informed property decisions, PropertyGuru, the leading online property portal, launched its proprietary ‘PropertyGuru Market Index’ (PMI) exclusively for Malaysia today. PMI is a comprehensive, insightful quarterly overview of home pricing trends at a nationwide level, as well as the key property markets of Kuala Lumpur, Selangor, Johor and Penang.
PMI Malaysia Price
From Q4 2016 to Q1 2017, the PMI showed a marginal increase of 0.2 percent for property prices in Malaysia. This indicates that the local property sector could be bottoming out. Quarterly, Kuala Lumpur, Selangor, Johor registered upward price movements with increases of 0.3 percent, 0.3 percent and 3.4 percent respectively. Penang’s index showed a decline in property prices by 0.7 percent– largely attributed to a reduction in prices and a tapered supply. Yearly, the Index saw Penang and Selangor record year-on-year declines of 4.1 percent and 2.6 percent, respectively. Kuala Lumpur recorded one percent year-on-year growth. A significant year-on-year increase of 5.3 percent was seen for the Johor market contributed by the various mega projects being developed there.