NAPIC is the acronym for National Property Information Centre. It was established at the insistence of the National Economic Action Committee (MTEN) to have a property centre to monitor the growth of the property market in the country.
In May 1999, the Parliament approved the amendments to the Valuers, Appraisers and Estate Agents Act 1981 which enables the Valuation and Property Services Department (JPPH) to set up and manage a property information center under the supervision and responsibility of the Director General of Valuation. Pursuant to the amendments, the Valuation and Property Services Rules were amended and gazetted on 9 September 1999. NAPIC begun its operations nationwide on 1 October 1999.
The objective of NAPIC is to provide accurate, comprehensive and timely information on demand and supply of property in the country to government agencies, property developers and other parties involved in the property industry.
The objective of NAPIC is to provide accurate, comprehensive and timely information regarding the demand and supply of property in the country to government agencies, property developers and all parties involved in the property industry.
The vision of NAPIC is to be the leading source of quality data and authority on property market information in the country. This vision is in line with JPPH's corporate vision of being a world-class valuation organisation.
- Always provide comprehensive, quality and up-to-date property data
- Always produce timely and relevant products to meet the requirements of the property industry and
- Always portray the actual situation pertaining to the demand and supply of property
- To collect property demand and supply data from various parties
- To develop and maintain a national property stock warehouse
- To provide accurate, comprehensive and timely information to government agencies and all other parties involved in the property industry
- To publish periodical property publication.
- To advice the government on property development in the country
- To increase public awareness regarding the importance of property data to the national development of the property industry