Modest growth in property price, supply and demand index for Q2 2022
The price, supply and demand for propertiesin the second quarter of 2022 have showed marginal increases based on datacaptured from PropertyGuru.com.my.
According to the MalaysiaProperty Market Report Q3 2022, the Sale Price Index which tracked theasking price for properties listed on the property portal, has registered agrowth of 1.08% QoQ and 2.87% YoY in Q2 2022.
The growth in asking prices builds furtheron improvements recorded in the first quarter of the year which saw a 1.04% QoQand 1.71% QoQ increase.
Also on an upward trajectory is the DemandIndex, which is based on listings that were viewed, enquired and acted upon bysite visitors. Demand moved up considerably by 7.93% QoQ in Q2 2022, afterdropping by 2.40% in the previous quarter.
The rise represented an 18.37% YoY climb,further improving upon a 15.43% gain in the previous quarter.
The Supply Index, which is based on theoverall volume of listed properties, has also remained on the upward trend with6.20 QoQ and 13.21% YoY.
In contrast, the previous quarter onlyshowed a negligible improvement of 0.31% QoQ although the yearly gain was adrastic 19.10% YoY increase.
The report cautioned against challengesahead amid rising inflation (currently at 3.4%) and it is feared globalinflationary forces will further fuel local inflation rates upwards.
Rising inflation has also led Bank NegaraMalaysia to revise interest rates from a record low of 1.75% during thepandemic to 2.25% since July 6, driving up the costs of home ownership.
On a positive note for developers, demandfor high-rise properties is back on the rise as demand grew 10.40% QoQ in Q22022.
Suppressed prices, improving sentiments andthe reopening of international borders combined with the positive performanceof high-rise rental market are thought to be contributing factors
The supply of high-rise properties on theportal rose by 12.04% QoQ and demand by 10.40% QoQ. However, the Sale PriceIndex for high-rise properties listed still saw a 0.59% drop.
Rental Price for high-rises saw a 2.76% QoQgrowth while rental supply increased by 6.83%. Rental demand for high-risesrecorded the biggest change with a 13.97% QoQ as the number of enquiries forrental listings continues increasing.
For more data insights and trends, checkout the full report here.
Get started with PropertyGuru For Business
.jpg)
