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Malaysia's property price rises 'are healthy'

Date : (News Section: Malaysia)

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Malaysia's property price rises 'are healthy'

Double-digit price rises for real estate in Malaysia indicate a healthy market.

This is according to deputy finance minister Donald Lim, who said increases of ten to 15 per cent a year - and up to 20 per cent in the capital, Kuala Lumpur - are acceptable and are not yet indicators of a property bubble.

He claimed that measures such as real property gains tax will help manage the market if prices do get too high.

The comments came as Malaysia's valuation and property services department released the latest All House Price Index, which rose by 6.6 per cent to 156.9 points during the final three months of 2011.

Malaysia's average property values reached 217,297 ringgits (£44,625) in the final quarter, while Kuala Lumpur property prices hit an average of 487,219 ringgits during the same period.

There were 4.5 million residential properties in Malaysia as of the end of 2011, with two and three-storey terraced houses making up the largest proportion of these, according to further figures from the National Property Information Centre.


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Article created on behalf of Propertyshowrooms.com News Desk ()

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