Malaysia’s high-rise and detached housing prices drop, first time in 10 years

KAJANG (April 30): High-rise and detached homes in Malaysia have recorded a -1.2% and -1.8% change on the Malaysian House Price Index 2018 (MHPI). This is the first time these two residential property types have seen negative growth on the index since 2010.

The highest growth in the prices of high-rise homes during the period between 2010 to 2018 was in 2012 with a 16% rise, while detached homes saw the highest growth in 2013 with a 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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