Full study on overhang situation proposed

Real Estate and Housing Developers’ Association (Rehda) Malaysia president Datuk Soam Heng Choon: “Converting the overhang units into affordable housing and getting the government to buy them over is a good exercise, but you have to be mindful that it will involve the taxpayers’ money as well."

KUALA LUMPUR: The Real Estate and Housing Developers’ Association (Rehda) is proposing that a thorough study be undertaken on overhang units in the country, before making a decision on whether to salvage or write them off completely.

It was proposed at the 14th Malaysian Property Summit 2021 last week that the government consider purchasing and repurposing the overhang properties in matured areas and turn them into affordable housing.