According to the Valuation and Property Services Department, the secondary market had accounted for 80% of the total transactions in the property market last year . This is a drastic shift from the previous year, where the new sales had made up 60% of the overall transactions with the remaining 40% from the secondary market.
From the sales volume perspective, in 2016 property transactions had declined by 11.5% on an annual basis, where the housing segment continues to drive the overall property market, accounting for 63.4% of the overall sales.
The low-cost homes remained in demand in 2016, as more than 65% of the residential sales consisted of houses costing up to RM300,000.
