Property overhang continues to increase

Property outlook: (from left) National Property Information Centre director Md Badrul Hisham Awang, Finance Minister Lim Guan Eng and Valuation and Property Services Department director-general Ahmad Zailan Azizuddin at the launch of the Property Market Report 2018.

KAJANG: The level of residential property overhang in the country continued to rise in spite of fewer launches last year.

According to the Valuation and Property Services Department (JPPH) in its Property Market Report 2018, the year-on-year (y-o-y) 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.