The Malaysian Institute of Property and Facility Managers has called on the authorities to keep housing data collection within just one entity which is NAPIC, as the organisation has come to understand that Jabatan Perumahan Negara also now intends to establish a databank for unsold properties in Malaysia.
The National Property Information Centre (NAPIC) of the Valuation and Property Services department (JPPH) under the Ministry of Finance (MOF) has always acted as the national property centre that collects and publishes data and information on the property market in the country.
It is of MIPFM view that NAPIC should be the sole agency handling all property supply and demand data. All data for the property market should be under NAPIC to avoid overlapping information. Besides that, NAPIC should be empowered and given more budget to collate, collect, analyse and provide accurate and timely data to property industry players free of charge.
The collection of data and information should be comprehensive to cover not only unsold units but also vacant and unused units. This would give a better and more accurate picture of property supply, use, and occupation. Vacant properties indicate poor usage of completed properties and this will be adding more burden on the oversupply situation. The financial resources for the construction of new buildings can be diverted to other financing opportunities instead of focusing just on the property market.
A single comprehensive property databank improves property market transparency and helps in improving market efficiency in the occupation, investment, and development sectors of the property market.
