21/07/2017
【Residential sale prices increase 0.2% this quarter】
A new index on home prices indicated a marginal increase in the first quarter of the year, possibly suggesting a positive outlook for the overall property sector.
Property information portal PropertyGuru, which launched the PropertyGuru Market Index (PMI) today, said there was a 0.2% increase in prices from the previous quarter.
“This means owners are more comfortable in wanting to sell their properties at a higher price after the PMI showed a steady decline since the first quarter of 2015,” the portal’s country manager, Sheldon Fernandez, said.
The PMI is a quarterly overview of home pricing trends derived from the asking prices of some 250,000 property owners in the portal’s listings.
The data is then filtered, aggregated and indexed to provide insight into price movement on a quarterly basis.
The index, however, does not track property transaction and is only limited to residential properties.
The quarterly increase in the PMI, Fernandez said, was due to the Kuala Lumpur, Selangor and Johor markets, which inched upwards by 0.3%, 0.3% and 3.4%, respectively.
“Johor residential market showed the most stability and growth, instigated by the numerous catalysts such as the High Speed Rail (HSR) and other mega developments,” he said.
