PETALING JAYA, April 4 — An oversupply of properties is still a major cause for concern in Malaysia, especially for higher end developments within the price range of RM500,000 to RM1 million, Real Estate and Housing Developers’ Association Malaysia (Rehda) said today.
Rehda president Datuk Seri Fateh Iskandar Mohamed Mansor said its survey showed that 45 per cent of unsold residential and commercial properties in the second half of 2017 (2H17) were in that price range, compared to 31 per cent in the previous half (1H17).
“Most of these units were located in Johor, followed by Selangor, and Negri Sembilan,” he said at the media briefing on Rehda’s Property Industry Survey and Market Outlook 2018 here.
The survey also showed that properties between RM1 million and RM2.5 million made up 20 per cent of the total overhang.
However, Fateh said the number of unsold units for residential and commercial properties in Malaysia has declined by 6 percentage points in that half from the previous period.
“In 2H17, 66 per cent of respondents stated to have unsold units, which is marginally lower than 72 per cent recorded in the 1H17,” he added.
The survey, which polled from 200 Rehda members in Peninsular Malaysia, revealed that, residential and commercial properties saw a significant increase in the number of launches.
The residential segment saw a hike of 68 per cent in number of units launched, while the commercial segment saw a 21 per cent hike.
Property developers launched the highest number of properties seen in the last few years, with 15,082 units going into the market in 2H17 compared to 9,089 units launched in 1H17.
