Both mortgage rates and approval rates are increasing, and the momentum of industrial property purchases will continue into this year.
According to the data released by the national banks, industrial loan applications in November last year decreased month-on-month, but increased by 4.8% in the first 11 months, reflecting a strong momentum in property purchases. Analysts believe that healthy property purchasing momentum can continue until 2025.
Analysts at MIDF Investment Bank pointed out in their report that loan applications dropped by 2% month-on-month in November 2024, to 55.3 billion Ringgit; however, compared to the previous year, it increased by 14%, pushing the total loan value for the first 11 months to 587.7 billion Ringgit.
"We believe that this number reflects the strengthening of the industry purchase excitement. If the central bank maintains the interest rate at 3% in 2025, Malaysia's property market and consumer buying sentiment will remain healthy."
As for property loan approvals, a total of 21.7 billion Ringgit in loans were approved in November, a monthly decrease of 10.8%, compared to a 11.5% increase in October.
Analysts pointed out that this is due to the loan approval rate in November, which decreased from 43.2% in October to 39.3%.
Loan approval increased by 6.7%.
Thanks to the sales boost from ShenZhen New Industries Biomedical Engineering, the loan approvals in the first 11 months of 2024 increased by 6.7% year-on-year, reaching 259.6 billion Ringgit; the approval rate also improved from 43.3% in the previous year to 44%.
Meanwhile, the Property/A-REIT Index performed well in 2024, rising by 31.5% for the full year, outperforming the 12.9% increase in the SSE Conglomerates Index.
Analysts indicated that the market sentiment on Banks, SSE Conglomerates Index, SBS Transit, and Property/A-REIT was optimistic. The resumption of RSP and influx of Institutions funds have driven the ShenZhen New Industries Biomedical Engineering Index to rise sharply, providing support for the market.

Datacenter and Infrastructure drive the construction stocks in 2025 towards steady growth.
Fenglong Investment Bank predicts that with the development of numerous projects such as data centers and infrastructure, coupled with high business sentiment in the private sector, the construction sector will maintain its strong momentum from last year in 2025, with its 'Shareholding' rating being maintained.
Fenglong Investment Bank analysts pointed out that the total value of domestic construction projects issued last year reached 44.2 billion Ringgit, a staggering 103% year-on-year increase, marking a new high since 2016.
"In addition to the strong contribution of 7.5 billion Ringgit from the Datacenter project, developers' optimistic sentiment also drove the rebound of high-rise residential or commercial development projects in the Johor market, thereby boosting the overall construction contract value last year."
"For this year's construction industry outlook, the analyst believes that thanks to the upcoming Datacenter projects, there will be a sufficient number of construction contracts to be awarded this year."
"According to various domestic Datacenter outlook reports, including forecasts from the Department of Energy and Water Affairs (PETRA), our country is expected to reach a Datacenter power consumption of 7.7 gigawatts (GW) by 2030 or before. We remain optimistic about the growth prospects of Datacenter engineering orders."
He added that in the future, some large Datacenter projects may also be located in traditional hotspots such as new areas outside of Johor and the Klang Valley.
Optimistic about the development of Johor and Penang.
In addition to Datacenters, the analyst continues to be optimistic about the private sector development in Johor and Penang markets, whether it is the prospects for residences, commercial, or industrial projects.
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