KUALA LUMPUR: Malaysia is targeting total sales of RM270 billion of property this year, up from RM250 billion in 2025 on the back of market recovery and policy measures, said Housing and Local Government Minister Nga Kor Ming.
He attributed to the market having fully recovered from Covid-19 and seeing steady growth year by year.
“In 2023, total sales were under RM80 billion, 2024 about RM232 billion, 2025, total sales were about RM250 billion,” he said at the Malaysia Economic Forum (FEM) 2026 yesterday.
He stressed that Malaysia’s property market is not experiencing a bubble and this remains a key priority in his role as a regulator.
“Under my watch, Malaysia’s property sector does not have a bubble. That is why I can sleep well every night,” he said.
On financing, Nga said, the government has effectively reduced lending risk for banks and has gone further to support affordability.
“If MBSB refuses to lend, then go to Maybank. You have to make financing easy, longer, cheaper,” he added.
This year, the Madani government has enhanced the Jaminan Kredit Perumahan (SJKP) scheme.
“We now have up to RM40 billion in government guarantees. As of this morning, we have assisted 97,850 homebuyers in purchasing their first homes, with loans provided, all guaranteed by the government.”
Nga added that RM18 billion in funds remain available, and urged eligible buyers seeking homes priced below RM500,000 to approach panel banks if they face difficulties securing loans.
He also called on more banks to participate in the scheme. “Maybank and RHB are already on board. I do not know why Public Bank and CIMB Bank are so slow. You should tap into the RM18 billion fund guaranteed by the government. We have taken away the risk,” he said.
Nga said the government goes beyond full guarantees by offering up to 120% coverage for first-time homebuyers, including additional amounts for renovation and furniture, under its guarantee scheme.
“There is RM18 billion still available. I have a KPI to achieve, 100,000 homebuyers. So far, I have achieved 97.8%.”
He said only another two to three percentage points are needed to reach the target and urged support to promote the scheme through KPKT and ensure buyers make use of the SJKP programme.
“Please seize the opportunity. First-time homebuyers purchasing homes priced below RM500,000 enjoy stamp duty exemptions. In addition, there are interest rebates of up to RM7,000 until 2027.”
Nga also said the Rent Tenancy Act (RTA), aimed at regulating Malaysia’s residential rental market, is now in its final review stage and the bill is targeted to be tabled in the Dewan Rakyat this year.
The Act, he added, is to protect the rights of both tenants and property owners.
“The RTA is in its final review stage. I will go through each phase before submitting it to the Cabinet for approval, and once the Cabinet reaches consensus, we hope the Act can be approved by the Dewan Rakyat this year. That is the art of balancing that we are moving forward,” said Nga.
Malaysia does not currently have a dedicated RTA.
