JPPH urged to find common ground to solve property market woes

Last update: 04/11/2019

KAJANG, Nov 4 -- The Valuation and Property Services Department (JPPH) has been urged to find common ground with related agencies in the effort to resolve the current problems in the property market.

Deputy Finance Minister Datuk Wira Amiruddin Hamzah said doing this could enhance JPPH’s role through the National Property Information Centre (NAPIC) in publishing accurate and up-to-date data and supporting the country’s property market. 

"I am confident that the data and information published by NAPIC are comprehensive and very useful as indicators in the planning of the nation’s property development and in the formulation of property-related policies,” he said at an appreciation dinner for NAPIC data providers in the Klang Valley here today.

Also present was JPPH director-general Mohd Khairuddin Abd Halim. 

Amiruddin said the data provided should be accurate to avoid the incidence of "garbage in garbage out" that could give inaccurate signals to industry players. 

He added that current issues such as property overhang, mismatch in pricing and location, rising house prices and the condition of the regional property market have had a great impact on the country.

"There have also been negative comments questioning the accuracy and data discrepancies with several other agencies," he said. 

Amiruddin urged data providers to continue to cooperate in providing property information online to NAPIC. 

"In line with developments in global technology and the Internet of Things, it is reasonable and easier for data to be channelled though the PRISM system," he added. 

PRISM provides accurate, comprehensive and timely information on Malaysia’s property sector, including property demand and supply, property market reports and other property-related information to government agencies, property developers and interested parties through the Internet.

At the event, eight data providers were honoured with NAPIC’s best data provider awards, including the Sepang Municipal Council, IOI Properties Group Bhd, Lembaga Tabung Haji and GM Klang Sdn Bhd. 

There are currently over 2,000 NAPIC data providers in the Klang Valley, including from government agencies and the private sector.