The number of completed and unsold properties from all segments rose to RM41.5bil as at end-2019, with close to 57,000 units sitting on the books of developers, according to the National Property Information Centre (Napic).
More than 45% of the overhang in ringgit value was contributed by the residential housing of all classes, ranging from landed to high-rise units.
The bulk of the unsold units was contributed by high-rise units, Napic research data showed at a virtual launch of its Property Market Report 2019. The 57,000 units unsold completed units in 2019 represents an 11.2% rise in volume, and 16.1% in terms of ringgit value compared to 2018.
Going forward, Napic said: “Finding the right solutions to the property overhang will continue to be the main agenda of the government” and solving the affordable housing would be its main stay, going forward.
