Malaysia’s High-Rise and Detached Housing Shows First Negative Price Growth Since 2010
1. High-rise and detached homes in Malaysia have recorded negative price growth of -1.2% and -1.8% change on the Malaysian House Price Index 2018 (MHPI) for the first time since 2010.
2. 2012 recorded the highest growth of high-rise homes with a 16% growth, while detached homes saw the highest growth in 2013 with 13.8% growth.
In 2017, high-rise homes saw a 5.1% rise in price while detached homes saw a 4.3% hike. Nevertheless, overall, Malaysia’s house prices continue to rise and show no sign of decreasing as the 2018 MHPI stood at 193.3 points, up by 3.1 points against 2017, according to the National Property Information Centre's Property Market Report 2018 which was launched today.
The states of Johor and Selangor led the pack with house prices increasing by 5.6% and 3.3% respectively in 2018. Residential property prices in major states for 2018 showed positive movements across the board. States such as Kuala Lumpur and Penang saw house prices increase by 0.2 and 0.6% respectively.
Terraced homes drove the overall MHPI growth in 2018 at 6.4%, followed by semi-detached homes at 2%.
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