ALMOST half of the new residential units launched for sale last year remained unsold at the end of 2002, contributing to a growing property overhang which rose in value to RM29.15bil from RM27bil a year previously.
According to the latest Property Overhang (Quarter 4, 2002) report released yesterday by the National Property Information Centre Valuation and Property Department, only 54.7% or 82,198 of the 150,406 residential units launched in 2002 were sold.
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