There Are Over 34,500 Unsold Residential Units In Malaysia As Of March 2018

If you’re constantly surveying the property market in hopes of finding an affordable home in a strategic place but often had to cancel your dreams after looking at the price tag, well, we’re in the same boat.

And that problem may also be attributed to the rising number of unsold homes in Malaysia.

According to a report by The Star, a total of 34,532 residential units including serviced apartments and small office, home offices (SoHos) worth RM22.26 billion in Malaysia are yet to be sold as of the first quarter of 2018.

This is an increase of 55.72% of unsold units compared to 2017.

About a third of residential units sold between RM500,000 to RM1 million were unsold while 33% of houses ranging from RM300,000-RM400,000 were left vacant without buyers.

Surprisingly, the highest states with unsold homes are Kelantan (48.08%), Kedah (48.2%), and Terengganu (44.2%).

Among the reasons cited for the unsold units are unaffordable pricing, impractical location, and poor accessibility.

Well, if they're selling houses with prices like Rosmah's Bijan handbag, no wonder nobody want to purchase it.