Malaysia: Real Estate Services Value Added Recorded Sustained Growth of 8.8 Percent as Compared to 2010

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1. EMBARGO : Only to be published or disseminated at 1200 hours, Monday, 10 July 2017 DEPARTMENT OF STATISTICS MALAYSIA PRESS RELEASE REAL ESTATE SERVICES ECONOMIC CENSUS 2016
2. INTRODUCTION This publication presents statistics on real estate services that were compiled based on Economic Census undertaken in 2016 for reference year 2015 . Real estate services encompass real estate activities with own or leased property and real estate activities on a fee or contract basis. PERFORMANCE OF REAL ESTATE SERVICES The census results showed that there were 17,447 establishments operated in real estate services compared to 8,277 establishments in 2010 with a compound annual growth rate (CAGR) of 16.1 per cent. Value of gross output generated for this services amounted to RM28.1 billion. Within the period of 2010 and 2015, there was an increase of RM9.4 billion registering a CAGR of 8.5 per cent. In line with the value of gross output, value added for real estate services recorded an increased of 8.8 per cent per annum with a value of RM17.6 billion. Number of persons engaged in real estate services are 77,020, of which 74,122 persons or 96.3 per cent are paid full-time employees. Paid part-time employees were 1,652 persons (2.1%) while 1,246 persons (1.6%) were working proprietors & unpaid family workers. For the period of 2010 to 2015, number of persons engaged recorded an increase of 25,084 persons, registering a CAGR of 8.2 per cent. Meanwhile, total salaries & wages paid in 2015 was RM2.7 billion, registering a CAGR of 11.4 per cent a year. WOMEN-OWNED ESTABLISHMENTS In 2015, there were 1,068 women-owned establishments in real estate services which comprised 6.0 per cent of the total establishments with CAGR of 7.9 per cent. Released By: THE OFFICE OF CHIEF STATISTICIAN MALAYSIA DEPARTMENT OF STATISTICS, MALAYSIA 10 JULY 2017 Contact person: Ho Mei Kei Public Relation Officer Corporate and User Services Division Department of Statistics, Malaysia Tel : +603-8885 7942 Fax : +603-8888 9248 Email : mkho[at]stats.gov.my