17-07-2025
- Business
- New Straits Times
Nga: No property bubble in Johor, market remains steady
PUTRAJAYA: There is no property bubble in Johor, Housing and Local Government Minister Nga Kor Ming assured today.
He said Malaysia's housing market had recorded steady growth in recent years and has shown resilience in recovering from the impact of the Covid-19 pandemic, amid speculation of an impending bubble in Johor.
"Malaysia's property sales have shown consistent growth, and there is no sign of a bubble.
"Despite what is being said in Johor, I can assure you that based on our data and analysis, there is nothing akin to the bubbles seen in other countries," he said.
Nga said that total property transactions in Malaysia rose to RM230 billion in 2024, up from RM190 billion in 2023.
He said that the ministry would continue to monitor the market to ensure growth remained sustainable.
"This year, of course, brings its share of uncertainties, but the government is doing everything possible to ensure we navigate these challenges together," he said in his speech at the Real Estate Developer Appreciation Ceremony, held in conjunction with the Fiabci World Prix d'Excellence Awards 2025.
Nga said the achievements of Malaysian developers on the global stage had made the nation proud.
"Your success is a testament to the world-class quality of Malaysia's real estate sector. You have truly made us proud," he said.
Five Malaysian developments were named World Gold winners. They are I-Santorini (Affordable Housing), Nouvelle Industrial Park @ Kota Puteri (Industrial), The Light Collection IV (Residential Low Rise), Iringan Bay Wetland Park (Environment) and TSLAW Tower (Office).
The World Silver winners were Hyatt Centric Kota Kinabalu (Hotel), SkyLuxe on the Park Residences (Residential High Rise), Sentul Works (Office) and Setia Eco Templer - Amantara (Residential Low Rise).
Dubbed the "Oscars of Real Estate", the Fiabci Awards ceremony was held on June 12.
