KUALA LUMPUR: The number of unsold completed residential properties has decreased to 26,286 units worth RM18.3 billion for the second quarter (Q2) of this year, the Dewan Rakyat heard today.
Deputy Local Government Development Minister Akmal Nasrullah Mohd Nasir said the decline indicated a decrease of 5.3 per cent in terms of unit numbers and a decrease of 0.6 per cent in terms of value compared to the same period, last year.
"Based on the National Property Information Centre for Q2 this year, the number of unsold housing units amounted to 26,286 units with a value of RM18.3 billion compared to the launched housing units of 135,614.
"This indicates a decrease of 5.3 per cent in terms of the number of units and a decrease of 0.6 per cent in terms of value compared to the same period, last year," he said during minister's question time in Dewan Rakyat, today.
Akmal said this in response to Datuk Suhaimi Nasir (BN-Libaran) on the government's effort to address the issue of excess unsold properties due to the mismatch between the value of properties built and the people's affordability.
In the final quarter of last year, it was reported that over 27,000 completed residential properties worth RM18.45 billion remained unsold, with a large chunk of homes worth between RM500,000 to RM1 million each. (reference: https://www.nst.com.my/news/nation/2023/05/912619/over-27000-unsold-home...)
Meanwhile, Akmal said the government is currently undertaking several measures to ensure the issue of unsold properties can be controlled, including the implementation of the Affordable Housing (Rumah Mampu Milik) index mapping based on the median income by state and district.
"The data for this will be obtained from the Household Income and Basic Amenities Survey Report 2022 and takes into account the median income of the population based on locality by using the median multiple approach.
"The mapping will also serve as a guide for developers and housing agencies to determine house prices in specific localities."
He added that the government will also ensure developers conduct a Feasibility Study to ensure that houses sold are based on people's affordability, as well as to avoid the houses being unsold.
