Malaysia's total property transaction value hit RM179.07 billion in 2022, the highest-ever value recorded by the National Property Information Centre (Napic) since 2001. Last year's transaction value was 23.6% year-on-year (y-o-y) higher than RM144.87 billion posted for 2021.
KUALA LUMPUR (March 15): Malaysia’s residential property overhang units dropped below the 30,000-mark for the first time in two years in 2022 amid strong growth charts in total transaction volume and value in the property market. A total of 27,746 overhang units were recorded in 2022, declining by 24.7% year-on-year (y-o-y) compared with 36,863 units in 2021. Total overhang value also shrank 19.2% y-o-y to RM18.41 billion, from RM22.79 billion during the same period, according to the National Property Information Centre (Napic) in its Property Market Report 2022 released on Wednesday (March 15).