The residential overhang in Malaysia recorded a lower increase of 1.9% in the first quarter of 2019, compared with 7.3% in the fourth quarter of 2018, as sales were driven by government-led initiatives such as the ongoing Home Ownership Campaign 2019 (HOC).
Valuation and Property Services Department (JPPH) director-general Ahmad Zailan Azizuddin is hopeful that the level of overhang will continue to decline, going forward.
“In light of the HOC, which may help improve sales performance, we hope the level of overhang and unsold units will slowly decrease, ” he told StarBiz yesterday.
Media Title: The Star
Date: 7 Aug, 2019