KUALA LUMPUR, Nov. 15 (Xinhua) -- Malaysia's property transaction value rose 22.6 percent year on year to 57.15 billion ringgit (12.24 billion U.S. dollars) in the third quarter, underpinned by residential property transactions, official data showed Wednesday.

The property market activity recorded 108,955 transactions in the third quarter, an increase of 3.7 percent as compared to a year ago, the Valuation and Property Services Department said in a statement.

The residential sub-sector continued to support the overall property market activity with 62.9 percent share, recording 68,561 transactions worth over 28 billion ringgit.

Sectoral market activity performance improved marginally: residential (5.6 percent), commercial (33.3 percent) and development land (2.4 percent) except for industrial and agriculture sub-sectors, which declined 0.6 percent and 12.2 percent, respectively, against similar periods last year.

Value of transactions across sub-sectors also showed upward movements. The agricultural sub-sector tops the list, increasing significantly 52.3 percent, followed by commercial (34.3 percent), industrial (30.9 percent), residential (13.4 percent) and development land (11.6 percent) sub-sectors.

In the third quarter, the Malaysian House Price Index stood at 212.6 points (458,751 ringgit per unit) with a marginal annual growth of 0.1 percent. Enditem

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