This article first appeared in TheStar.com.my, on May 5, 2019.
JOHOR BARU: Johor has the highest number of unsold completed properties in Malaysia over the last two years with 6,066 units left without buyers.
State Housing, Communications and Multimedia Committee chairman Dzulkefly Ahmad said the combined value of these units amounted to RM4.068bil.“Nearly 60% of these units are priced at RM500,000 and above.
“High-rise properties, priced at RM500,000 and above, make up 35.25% or 1,278 of the unsold units,” he said after attending the Johor Affordable Housing open voting ceremony in Persada International Convention Centre yesterday.
Dzulkefly said Perak was in second spot with 5,357 units (RM1.632bil), followed by Selangor, 4,693 units (RM4.2bil); Penang, 3,502 units (RM3.088bil) and Kedah, 3,311 units (RM889.54mil).
He said in 2017, there were 4,376 unsold completed properties worth RM2.859bil throughout the state.
He added that the number showed developers needed to focus on producing more affordable houses below the RM500,000 threshold.“Developers need to analyse the current property market in the state before building to reduce the overhang,” he said.
Dzulkefly said the state government, through its Housing Secretariat, would focus on finding ways to ensure that unsold completed residential units under the Johor Affordable Homes would be sold immediately.
Send Correspondence to
Hectarworld Realty Sdn Bhd
Hectarworld Office (KLEC Bangsar)
SO- 7-5, Menara 1, KL ECO City
59200 Kuala Lumpur
+603 2202 1896
+603 2202 0896
For additional information, please visit our contact Hectarworld page