Over 30% increase in unsold residential properties in Malaysia

Citing the National Property Information Centre (NAPIC) data, it said the secondary property market makes up about 80 per cent of all residential property transactions in the country, compared to around 20 per cent of new properties (the primary market).

KAJANG: The year-on-year residential overhang in Malaysia increased to 32,313 units valued at RM19.86bil in 2018, an increase of 30.6% in volume and 27% in value, according to the Valuation and Property Services Department (JPPH).

In its Property Market Report 2018, JPPH said high rise units formed the bulk of the overhang units, representing 43.4% (14,031 units) of the total.