Weekly Industry News

Unsold 34,500 Completed Residential Units In Malaysia Total RM22bil

Weekly Industry News

The number of unsold completed residential units – including serviced apartments and small office, home offices (SoHos) – totalled 34,532 worth RM22.26bil for the first quarter of this year, the National Property Information Centre said in its latest report on Property Overhang Q1 2018.

These are cumulative figures from previous years.

This represents an increase of 55.72% in the number of unsold units compared to a year ago, when unsold units totalled 22,175, inclusive of serviced apartments and SoHos, which are built on land zoned as commercial but have a residential element to them.

In ringgit value, this represents a rise of 67.82%, from RM13.27bil a year ago to RM22.26bil as at March 31, 2018. Excluding serviced apartments/SoHos, about a third of all residential units in their respective price segments remained unsold.

Media Title: The Star

Date: 28 Jun 2018

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