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In Malaysia, the affordable housing segment is partly funded by the free-market housing that is priced to cover the outstanding cost of developing the former.

“Government assistance is usually given when the price of houses supplied by the private market sector fails to meet the needs of the poor.

A total of 27,746 overhang units were recorded in 2022, declining by 24.

Landmarks said it is of the view that there will be no material impact to its business, both financially and operationally, in view that it has no other outstanding loans or facilities with any other banks or financial institutions.

Commenting on the outlook for the property market this year, Napic director Aina Edayu Ahmad said it depends on market sentiment, especially from property developers and households.

“The sector will continue to be weighed down by oversupply and the declining price affordability, as rising interest rates and inflation bite into consumers’ spending power, let alone high-ticket purchases.

DONE DEAL: Shopoffice, Kepong, Kuala Lumpur DONE DEAL: Shoplot, Johor Bahru, Johor Damansara Legenda, Petaling Jaya is situated in the enclave of Tropicana Golf and Country Resort and Tropicana Indah.

In terms of total sale value, Malaysia retail industry in 2022 had recovered to 2019 level.

Arica is a 380-unit freehold serviced apartment development, offering unit built-ups ranging from 947 sq ft to 1,259 sq ft and priced from RM800,000.

Thursday's decision to maintain the OPR at 2.