PETALING JAYA (Oct 21): Getting the government to buy over and convert unsold units into affordable housing is a good idea but such an exercise has to be properly implemented.
KUALA LUMPUR (Oct 13): The Government should consider purchasing and repurposing the unoccupied properties in matured areas and turn them into affordable housing to address two issues at one go, said the president of the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector of Malaysia (PEPS), Michael Kong (pictured).
It was recently reported that a vacancy tax on unsold properties may be imposed on property developers to reduce the overhang.
KUALA LUMPUR (Aug 19): The Housing and Local Government Ministry (KPKT) is formulating a tax that could be imposed on developers who fail to sell their properties as early as early next year, in an effort to reduce overhang of residential units in the country.
PETALING JAYA (May 1): It is estimated that unsold Bumiputera units contributed to about at least 40% of the total residential property overhang units in Malaysia.
PETALING JAYA (May 1): The absorption of commercial-titled residences, mainly serviced apartments and SoHos, is posing a challenge to the market as seen from the significant increase in the number of overhang units of this property type in 2019.
PETALING JAYA (April 29): The residential property overhang and unsold residential property situation in the country improved last year (2019).