01/08/09 The Star

KUALA LUMPUR: The number of applications for developer licence in the housing and property sector has dropped by more than 19% in the first half of the year compared to the corresponding period last year.

Housing and Local Government Minister Datuk Seri Kong Cho Ha said 433 applications were received from January to June this year, compared to 517 in the same period last year.

“This translates into fewer launches as evident in the National Property Information Centre’s first quarter Property Market Status Report, where only 3,201 units of new residential launches were reported as compared to 4,902 units in the first quarter last year,” he said at the launch of the Malaysian Property Expo.

However, Kong said the housing industry was mature enough to ride through the current economic condition.