Housing market continues to be robust in 2H 2022 - Bank Negara

BNM: 'Consequently, the growth in house prices (as measured by the Malaysian House Price Index) trended higher, towards its long-term average -- third quarter (3Q) 2022 at 5.1 per cent.'

In its Financial Stability Review released today, the central bank said property market transactions continued to hover above the pre-pandemic levels in 2H 2022, primarily driven by transactions for purchasing properties priced at RM500,000 and below.

"Such measures include the extension of the full stamp duty exemption for properties priced at RM500,000 and below and 75 per cent stamp duty discount on properties priced above RM500,000 to RM1 million," it said. "This comprises overhang and unsold under construction for residential, serviced apartments and small office, home office units," it said.

"Projects with high levels of unsold units -- that is above 80 per cent unsold rate -- accounted for only 10 per cent of total projects with unsold units.

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