Property overhang units must not be confused with unsold stock. The government has defined overhang units as properties that are completed and issued with Certificates of Fitness for Occupation or Temporary Certificates of Fitness for Occupation, but remain unsold despite having been put on the market for at least nine months.

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Average prices have grown modestly across the market. The highest relative price growths were among the affordable properties, in part due to their lower capital bases. The top three performers were Indah Apartment, Medan Intan Apartment and Idaman Suria, with prices up 34.9%, 31.4% and 25.4% respectively.

Evidently, IBS has proven to reduce costs and positively impact the bottom line of construction giants such as Skanska, Hochtief and Bechtel.

Sunway Construction Group Bhd (Suncon) was awarded the RM1.2 billion Klang Valley mass rapid transit line 2 (MRT2) project on March 29 this year.

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The controlling shareholders of property developer Magna Prima Bhd are understood to be looking to hive off a large stake of about 30% in the company, sources say.

 The property market in Setapak consists mainly of mass-market condominiums and apartments.

The recently announced tender schedule for the estimated RM30 billion Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya Line (SSP Line), or MRT2, promises exciting times for the construction sector over the next few months.

Setapak has an abundance of high-rise residences, most of which are priced to target the middle class.