Property transactions are expected to exceed RM100 billion in worth this year from RM96-77 billion in the first 11 months of last year, said Director General of Valuation and Property Services Department, Datuk 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 January and November last year rose 7-6 per cent to RM222-29 billion taking up 60-2 per cent share of the volume of property transactions, he said during a press conference here today on the upcoming 4th Malaysian Property Summit 2011- The transactions of commercial properties rose 21-3 per cent while that of industrial properties went up 25-6 per cent, agriculture 17-9 per cent and development land 24 per cent- In the residential property sub-market, the major states recorded positive growth with the city of Pulau Pinang recording the highest rate of 9-7 per cent followed by Kuala Lumpur at 8-2 per cent and the state of Selangor with 7-2 per cent growth- ...

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