PROPERTY TRANSACTIONS SET TO EXCEED US$32.7 BLN THIS YEAR

KUALA LUMPUR, Jan 18 (Bernama) -- Property transactions are expected to exceed
RM100 billion (US$32.679 billion) this year from RM96.77 billion in the first 11
months of last year, said Director General of Valuation and Property Services
Department, Abdullah Thalith Md Thani.

He also said the recovery of the economy has reinvigorated the overall property
market with the residential property sub-sector remaining the main mover of the
property market.

The value of transactions in the residential sector between July and November
last year rose 15.5 per cent to RM22.6 billion from the same period in 2009,
while commercial property transactions rose 22.4 per cent to RM9.78 billion, he
said during a press conference Tuesday on the upcoming 4th Malaysian Property
Summit 2011.

Industrial property transactions rose 52.9 per cent to RM4.66 billion,
agriculture property deals rose 22.8 per cent to RM4.54 bilion and development
property transactions rose 64.9 per cent to RM5.16 billion.

In the residential property sub-market, the major states that recorded positive
growth were Pulau Pinang, which recorded the highest growth rate of 9.7 per
cent, followed by Kuala Lumpur at 8.2 per cent, Selangor 7.2 per cent and Johor
3.6 per cent. (US$1=RM3.06)
-- BERNAMA