As high as 72% of all loans approved in Malaysia are given to houses priced below RM500,000, as reported by the Deputy Minister of Finance Dato' Lee Chee Leong during the opening ceremony of ARENA Conference here in Kuala Lumpur on 25 August.
According to Lee, the housing transaction volume in the country has also improved, recording a smaller contraction of 5.4% in the first quarter of 2017, as compared to -12.7% in last quarter of 2016.
The worst could be over "Though we are seeing slowing times, the real estate sector is resilient and there are indications that in the first half of this year, the market is firming up and could see an uptrend in 2018.
According to him, Malaysia recorded a strong economic growth of 5.8% in the second quarter of 2017. For the purpose of comparison, the ASEAN economies which is valued at US$2.55 trillion, grows at 5% per year as compared to a global growth rate of 3.5% per year, putting Malaysia ahead of the league.
Besides this, with a strong population of 638 million people, the ASEAN region has also the fastest growing real estate market