Weekly Industry News

`Include residential vacancy rates in Napic report’

Weekly Industry News

The government should include information on residential vacancy rates (RVR), in order to provide more comprehensive data for industry stakeholders, said Metro Homes Realty Bhd executive director See Kok Loong (pix).

“The real ratio that represents the supply and demand situation should be RVR. Unfortunately, we don’t have the RVR in Malaysia and I believe it is timely for the National Property Information Centre (Napic) to provide information on RVR instead of just overhang figures,” he told Property Take.

According to See, RVR is the percentage of all units in the particular market that are unoccupied during a particular time. The vacancy rate is calculated by multiplying the number of vacant units by 100, which is then divided by the total number of units in the building.

MediaTitle: The Sun

Date: 24 Apr 2019

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