PUTRAJAYA, April 14, 2015:
Residential properties below RM500,000 were in great demand from 2010 to 2014, said Deputy Finance Minister Datuk Chua Tee Yong.
Chua said in 2013, transactions for residential properties worth RM200,000 to RM500,000 totalled 74,153 units and they increased to 102,082 in 2014.
'This clearly shows that properties in this category are in demand and the government hopes that developers can offer more such properties than those more than RM500,000 or RM1 million,' he told reporters after the launch of the Property Market Report 2014 yesterday.
He said the expectations that more people would buy properties in anticipation of the fall in property prices before the implementation of the Goods and Services Tax turned out otherwise.
'According to the transaction data in the first quarter 2014 compared to the first quarter of 2015, the number of transactions dropped by 4.6%.
'As for the comparison in the fourth quarter 2014 to first quarter of 2015, the number of transactions declined by 6.2%,' he said.
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