Real estate booming in Perak, Malaysia

April 27, 2012 - Perak

Perak is expecting a delivery of around 10,00 new residential units, up from 4,582 last year.

According to a report by the Finance Ministry of Malaysia, delivery of new units has been strong from 2007, when 9,747 units were delivered, 6,513 in 2008 and 8,496 in 2009.

Perak consists of 10 districts, with around 60 per cent of the launched units in the Kinta district where property prices have seen an increase of around 15 per cent over the past year.

Other targeted districts for newly launched units include Larut, Matang, Selama and Manjung.

The increase in property prices is attributed to higher land cost, compliance fees and increased construction costs, which in turn has induced more buying, in fear that prices may climb still.

The boom is expected to continue unless the government will introduce cooling measures to curb the bubble or there will be severe changes in the global economy.

Via Property Report

• More Chinese buyers set to profit from falling UK property prices


• UBS: No end in sight for skyrocketing Hong Kong prices


• Hong Kong sales plunge as buyers adopt wait-and-see attitude


• Singapore prices to rise 5% in 2011 and 2012


• Aussie luxury home prices falling