The number of unsold homes in Malaysia has more than doubled, reaching a new high of 30,115 homes as at the third quarter of 2018 (3Q18).
According to the National Property Information Centre (NAPIC), as of 3Q18, 30,115 unsold homes amounted to RM19.54 billion, a year-on-year increase of 9,811 homes or RM18.28 billion from 20,304 unsold homes in 3Q17. The 3Q17 figure is 6,111 more than the 14,193 unsold homes in 3Q16.
However, a slightly different story emerges when this is compared with homes of differing values. For example, as of 3Q18, 11,821 properties over RM1 million were unsold, a drop of 60,354 homes from 2017’s 72,175 unsold properties.
Media Title: The Edge Financial Daily
Date: 29 Jan 2019