Weekly Industry News

Property overhang continues to increase

Weekly Industry News

The level of residential property overhang in the country continued to rise in spite of fewer launches last year.

According to the Valuation and Property Services Department (JPPH) in its Property Market Report 2018, the year-on-year (y-o-y) residential overhang in Malaysia increased to 32,313 units valued at RM19.86bil in 2018, an increase of 30.6% in volume and 27% in value.

High-rise units formed the bulk of the overhang units, representing 43.4% (14,031 units) of the total.

“Most of them were concentrated in Perak (2,905 units) and Kuala Lumpur (2,692 units),” according to the report.

Media Title: The Star

Date: 1 May 2019

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