Low income likely reason for high number of unsold properties in Perak

IPOH: Low household income could be the cause of unsold properties in Perak, says Paul Yong Choo Kiong.

The Perak Local Government and Housing Committee chairman said the state government was trying to bring in more investors to help boost the income of Perakians, so they can afford to buy homes.

“In Perak, many of the unsold properties are high-rise units and expensive landed houses.

"Despite the high demand for residential units, many Perakians cannot afford the price due to their income, ” he told reporters after attending the Chinese New Year open house celebration at SJKC Yit Chee in Pusing on Wednesday (Jan 22).

“Besides having the Perak Housing and Property Board (LPHP) coordinate housing issues, we believe investors coming to Perak will generate more job opportunities and therefore will lead to higher income," he added.

In a recent business news report, Perak is said to have the second highest unsold residential units in the country with 5,126 units.

The first was Johor with 5,470 units, followed by Selangor in third with 4,872 units.