Bank Negara says a mismatch between demand and supply of residential property has pushed up house prices.
The central bank in its Financial Stability Review report however said risks of a sharp correction in house prices will continue to be mitigated by a firm demand for housing, particularly for properties priced below RM500,000.BNM said Malaysian house prices continued to grow moderately in the third quarter of 2019, on the back of steady demand for affordable high-rise properties.
For the year as a whole, housing market transactions are expected to register stronger positive growth in volume terms. Demand for affordable housing units continued to outstrip supply by a wide margin, indicating room for further adjustments in prices, particularly for new housing stock, BNM said.The average volume of newly-launched residential properties priced below RM300,000 has declined in recent quarters despite strong demand from households.
La baru tau.
house not affordable because cars too expensive.
Thank you BNM. After 10 years, you finally admit it.
well, it doesn't take Einstein to figure that out, isn't it? Just go around Klang Valley. That alone will show you properties prices are NOT AFFORDABLE! thank you. i rest my case!
LMFAO. Kudos to BNM for picking the PERFECT timing to stab these motherfocking properties developers in their backs. 👏👏👏
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