Property overhang seen at ‘worrying’ level

Rahim: The current situation is not a recession, it’s just an oversupply situation. In this case, the developer needs to be prudent in what they are offering.

KUALA LUMPUR: Rahim & Co expects the property overhang in Malaysia to ease over the next two years as market forces and various prudent measures are expected to stabilise the situation.

According to the National Property Information Centre, there were 29,227 overhang residential units in Malaysia as at the first half of 2018, valued at RM17.24bil.