According to housing and local government minister Nga Kor Ming, the share prices of property counters have seen a surge of up to 600% over the past year.

He expects the good times to extend over the next three years with the support of various initiatives outlined by the government under the 2024 budget.

Nga said in a statement today that of the 100 property counters on Bursa Malaysia, 76 have seen increases in their share prices.

For instance, he said, DPS Resources Bhd and UEM Sunrise Bhd have experienced a 600% and 347% rise in their respective share price.

On the other hand, 22 counters have seen a drop in their respective share price while the remaining two of the 100 counters have managed to keep their share price steady despite market fluctuations since January last year.

The number of transactions in the property market also rose in the first quarter of this year.

From January to March, more than 104,000 properties changed hands for a total of RM56.53 billion, up from 89,000 transactions worth RM42.31 billion in the same period last year.

“This shows an increase of RM14.22 billion in terms of value, which is significant. It shows that Malaysia’s property market is recovering well and is on the rise,” Nga said.