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.
Media Title: The Star
Date: 30 Apr 2020