Over 25,000 unsold new houses worth RM17.4bil as of Q3 of 2023

KUALA LUMPUR: There are a total of 25,311 unsold new properties worth RM17.4bil as of the third quarter of last year, the Dewan Rakyat was told.

According to the Housing and Local Government Ministry, data by the National Property Information Centre (Napic) showed that the figure consists of 19.4% of 130,753 newly launched units across the country.

For Kuala Lumpur, the ministry said there were 3,111 unsold new properties last year alone, which is worth RM17.4bil and consist of 19.07% of unsold properties in that area.

“But, for 2024 figures, Napic is still in the process of updating and reviewing the data before the quarterly reports are released,” said the ministry.

The ministry said the housing industry is a dynamic and competitive industry that involves various stakeholders.

However, it also faces various issues including the problem of unsold ready-made houses, the ministry added.

“This problem is a manifestation of the issue of mismatch in the housing market caused by the gap between demand and supply of houses in the market,” it added.

The ministry was responding to P. Prabakaran (PH-Batu), who asked for figures of unsold houses in the country and KL.