A big data system is needed to solve property overhang issue in Malaysia, Housing and Local Government Minister Zuraida Kamaruddin said, adding that such a system will be a ‘game changer’ for the local property industry.
She said the lack of a big data system has hindered the government in understanding the local housing needs.
“Rest assured that we are working on establishing the big data system as outlined in the National Housing Policy 2.0,” she said in her keynote address at the Financing Affordable Housing across Asia Conference here today.
“Once we have this system up and running, we can consolidate the data to see where we are now and allow us to make future projections for housing development, in terms of property type, price and location. This will also be helpful in solving the property overhang issue.”
