Property market Q3,2020 snapshot

MALAYSIA’s total property overhang rose to RM50.17bil at of Sept 30,2020, according to a third quarter snapshot of the property sector by the National Property Information Centre.

The total property overhang was more than RM40bil in the same quarter a year ago, based on Napic’s third quarter 2019 report.

On the positive side, property transactions rose 7.4% for the third quarter to 89,245 units versus 83.085 units a year ago but value fell to RM33.78bil, or 2.4%.

An overhang is defined as units that have received their Certificate of Completion and Compliance but remain unsold for more than nine months after launch.


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