Property overhang may stabilise slightly

Anytime is still a good time to buy property as it is an appreciating asset and a good hedge against inflation, advised Siva.

PETALING JAYA: The level of residential property overhang in Malaysia may stabilise slightly in 2021, but is expected to remain high as the price-to-income ratio continues to affect affordability.

Rahim & Co International Sdn Bhd research director Sulaiman Saheh (pic below) said there were 57,390 overhang units of residential, serviced apartments and small office home offices worth RM42.49bil as at the third quarter of 2020

“The overhang levels continued to increase in 2020. This year, with the movement control order enforced and affordability still an ongoing issue, it will still continue to go up, ” he said at a virtual press conference following the launch of Rahim & Co’s 2020/2021 market review.