IPOH: The number of unsold residential properties in Perak dropped by about 57.7% in 2024 compared to 2023, according to the National Property Information Centre (Napic).
Perak Napic director Norazura Hassan said the number of unsold units recorded in 2024 was 2,844 compared to 4,598 in 2023.
Norazura said the estimated value for the overhang properties was about RM855.3mil.
"Condominiums and apartments make up the largest portion, with 1,022 units.
“Single-storey terrace houses represent 740 units, while double and triple-storey terrace properties represent 704 units," she said in her briefing at the Perak Real Estate and Housing Developers' Association Malaysia (Rehda) office here on Friday (May 16).
"Other unsold properties included cluster homes (103 units), detached houses (200), single-storey and double or triple-storey semi-detached houses (42 units each) and townhouses (10 units)," she added.
Norazura said Manjung was the Perak district with the most unsold properties at 1,194 units.
"This was followed by Kinta (899 units), Kampar (251) and Kuala Kangsar (176).
"Other districts include Hilir Perak (104), Batang Padang (83), Hulu Perak (72), Larut, Matang (39) and Muallim (26 units)," she said.
Perak Rehda chairman Loh Ban Ho said he believes that the affordability of the properties was a factor in the drop in overhang properties.
He said properties mentioned in the Napic report were priced between RM200,000 and RM300,000.
"The drop in overhang properties in 2024 reflects that the overhang properties are easily absorbed by the rakyat as the properties in Perak are still very affordable," he said.
