By Hakim Hassan

PETALING JAYA: Despite the market slowdown in 2018 for the property segment, Napic sees that sector to bounce back in 2019 based on the slight growth in volume and transaction in 2018 according to Napic deputy director property market division Norhisham Shafie.

“Judging from the marginal increase in volume and transaction in 2018, the property market is expected to stablise in 2019,” he said during the Big Data Analytics conference hosted by the real estate and housing developers’ association (REHDA).

The property sector recorded 313,710 transactions worth RM140.33bil in 2018 and increase by 0.6% in volume and 0.3% in value compared to 2017.

Residential property continued to support the overall property sector with 62.9% market share, followed by agriculture property with 21.5% share.

He also said that major infrastructure projects are expected to be the catalyst for development growth in the long run through the status of the projects that are under review commercial property will remain the supporting sector in generating business activity and pull-factor for investments.

The centre recorded overhang units of 51,625 nationwide last year with residential being one of the biggest with 32,213 units or RM19.86bil followed by serviced apartments with 11,371 units or RM9.1bil, while overhang in retail is at RM4.08bil while the rest is made up SOHO 1,343 units or RM669.2mil and industrial at 1,183 units or RM1.9bil.

To tackle the issue NAPIC depute director property market division Norhisham Shafie said it needs to be thoroughly handled and a holistic measure needs to be in place.

He presented during the Big Data Analytics for Real Estate and Property Development hosted by real estate and housing developers’ association (REHDA).

The conference brings together today’s prominent and experienced leaders to share insightful and inspirational presentations, forward thinking discussions and networking opportunities connecting both creative marketers and data practitioners alike.