An unwanted problem of unsold units

No takers: The Kuala Lumpur city skyline at dusk. Serviced apartments form 72% of total commercial overhang in unit terms, according to property professionals.

THE government and developers need to seriously consider how to resolve the rising number of unsold completed units, particularly serviced apartments, which keeps ballooning annually.

As they are built on commercial land, they are categorised as commercial property, like small office home offices (Sohos). However, these units are used as houses, so they form part of the residential overhang, under the commercial category. Serviced apartments form 72% of total commercial overhang in unit terms, say property professionals.