Unsold property units on the rise in Malaysia

"Unreleased Bumiputera lots and loan rejections by banks are the top reasons for the unsold units," said Rehda president Datuk Seri Fateh Iskandar Mohamed Mansor

KUALA LUMPUR: The number of unsold property units in Malaysia have increased due to unreleased Bumiputera lots and loan rejections, says the Real Estate and Housing Developers Association (Rehda).

The percentage increased by 14% in the first half of 2015 ended June 30, 2015 from the preceding half ended Dec 31, 2014, according to Rehda’s survey. Most of the units which were unsold were in Kedah, Penang, Selangor and Johor.