Definition:
Residential real estate transactions refer to the buying, selling, or transfer of ownership of residential properties such as single-family homes, condominiums, townhouses, and apartments. These transactions involve a number of steps and parties, including buyers, sellers, real estate agents, attorneys, lenders, and title companies.Additional information:
The KPIs covered in this market are the real estate transactions revenue and the average revenue transaction value.Most recent update: Jul 2024
Source: Statista Market Insights
The Residential Real Estate Transactions market in Malaysia has been experiencing steady growth in recent years.
Customer preferences: One of the main customer preferences in the Residential Real Estate Transactions market in Malaysia is the desire for affordable housing. With rising living costs and inflation, many Malaysians are looking for properties that are within their budget. Additionally, customers are increasingly interested in properties that offer good value for money, such as those located in desirable neighborhoods with access to amenities like schools, shopping centers, and public transportation.
Trends in the market: One trend in the Residential Real Estate Transactions market in Malaysia is the increasing demand for high-rise condominiums and apartments. This is driven by several factors, including the growing urban population and the desire for convenient and low-maintenance living. Many Malaysians, especially young professionals and families, are opting for smaller living spaces that offer modern amenities and are located in urban areas. Another trend in the market is the rise of property investment. Malaysians are increasingly viewing real estate as a viable investment option, with the potential for capital appreciation and rental income. This trend is fueled by low interest rates, which make property financing more affordable, as well as the desire for diversification in investment portfolios.
Local special circumstances: One of the local special circumstances in the Residential Real Estate Transactions market in Malaysia is the implementation of various government initiatives to promote affordable housing. The government has introduced programs and incentives to encourage developers to build more affordable homes and to assist low-income Malaysians in purchasing their own properties. These initiatives aim to address the housing needs of the population and ensure that homeownership is accessible to a wider segment of society.
Underlying macroeconomic factors: Several underlying macroeconomic factors contribute to the development of the Residential Real Estate Transactions market in Malaysia. Economic growth, low unemployment rates, and stable inflation levels create a favorable environment for property transactions. Additionally, the government's efforts to attract foreign direct investment and promote economic development have led to increased job opportunities and income levels, which in turn drive demand for residential properties. In conclusion, the Residential Real Estate Transactions market in Malaysia is experiencing growth due to customer preferences for affordable housing and value for money properties, as well as trends such as the demand for high-rise condominiums and apartments and the rise of property investment. Local special circumstances, such as government initiatives to promote affordable housing, further contribute to the market's development. Underlying macroeconomic factors, including economic growth and stable inflation levels, also play a significant role in shaping the market.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Data coverage:
Figures are based on total and average revenue of residential real estate transactions (sales).Modeling approach:
Market size is determined by a bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights