Malaysia’s unsold completed property at Peak as of first half of 2020
Malaysia had recorded 21,683 of unsold completed units as of the first half of 2020. This represents a whooping 5,602% increase from 380 units as of the first half of 2010.
This could be a potential problem for developers, consumers, and the economic of Malaysia on a larger scale. Developers would need to sell their units at a discount and consumers will have in mind that property value will continue to spiral down.
This could be a sign of the housing bubble that happened in the United States during 2009. This could be a disaster if not handled property by the Malaysian Government.
Source: The Star Malaysia
On the other hand, let’s have a little insight on the statistics of property market in Malaysia is doing.
Things seems to be depressing with the negative property value and volume growth rate. The Malaysian Housing Pricing Index shows a negative return too, with base year of 2010 as the comparison.
There are several factors which contributed to this phenomena, and the pandemic is one of the major events happening this year.
Talking about dreams to be a house-owner, we’ll leave it to your judgement on whether you should jump into the bandwagon now.
Share with us your thoughts too!