The Property Market Report 2012 shows that states that are usual targets for investors such as KL, Selangor, Johor, Perak and Penang saw a decline in transactions last year. In 2012, residential properties in Penang declined 24.2% from the previous year, the biggest decline among all states.
In addition, commercial and agricultural property transactions also decreased by 14.9% and 16.3% respectively. The Real Property Gains Tax (RPGT) increase of five per cent has impacted the market as it saw a declining number of transactions in 2012 after flourishing in previous years. Meanwhile, states that have smaller property markets such as Kelantan, Terengganu, Pahang and Putrajaya have shown an increment in their transactions in 2012.
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