House prices in Malaysia up 5.8% in 12 months to March

PETALING JAYA: House prices in Malaysia rose 5.8% for the 12-month period ended March 2018, according to Knight Frank's Global House Price Index report.
In the past six months between the third quarter of 2017 and the end of the first quarter this year, house prices were up 2%, but they fell marginally by 0.1% in the past three months.
Worldwide, Hong Kong registered the highest gain in property prices with an increase of 14.9% in the past one year.
"Despite an improving supply scenario over the long-term – 96,000 apartments are due to be released in the next three to four years – and the likelihood of a prime rate rise, prices in Hong Kong continue to accelerate with small to medium-sized units recording the strongest price growth," said Knight Frank.
The index is compiled on a quarterly basis using official government statistics or available data from central bank. The index's overall performance is weighted by the gross domestic product on a purchasing power parity basis.