The trend in construction permit procedures in Malaysia from 2013 to 2023 shows a consistent and substantial reduction, with the number of procedures dropping from 14 units in 2013 to 6 units in 2023. The year-on-year variation over this period indicates significant declines, particularly notable in 2018 (-23.08%), 2021 (-12.5%), and most recently in 2023 (-14.29%). The compound annual growth rate (CAGR) over the last five years stands at -16.74%, reflecting a steep average annual decrease.
Looking ahead, the forecasted data from 2024 to 2028 suggest the downtrend will continue, reaching as few as 2 units by 2028. This projection indicates an anticipated five-year growth rate decrease of -60%.
Future trends to monitor include advancements in digital permit processing, regulatory reforms aimed at further reducing bureaucracy, and the potential impact of foreign investment and development on construction activities in Malaysia.
