According to the National Property Information Centre (NAPIC), there were 32,810 residential overhang units worth RM19.76bil, an increase in volume of 1.5% whilst the value decreased by 0.5%.
43% overhang units were condominium and apartment, bulk of the units priced between RM200,000 to RM300,000, mainly contributed by Perak.
In the 1H of 2019, the sector recorded 160,172 transactions worth RM68.3bil, representing a 6.9% increase in volume and 0.8% in value as compared to the 1H of 2018, which recorded 149,862 transactions worth RM67.74bil.
Residential property is 62.4% market share, followed by agriculture property with 21.6% share.
There were 99,922 transactions worth RM34.65bil recorded in H1’19, an increase of 6.1% in volume and 9.5% in value.
In the primary market, the number of new launches in H1’19 were far behind those recorded in the same period last year.
There were 23,591 units launched, contracted by 49.4% as compared to 46,617 units in H1’18.
For commercial property, there were 12,960 transactions worth RM12.53bil recorded in the 1H of the year, up 20.4% in volume but value declined by 20.8%.
The shop sub-sector dominated 53.4% of commercial property transactions and 46.3% of total value, recording 6,923 transactions worth RM5.8bil.
The shop sub-sector overhang continued to increase as well, recording a total of 5,760 units with a value of RM4.98bil, up 13.9% in volume and 22% in value against the preceding half.
The unsold under construction and not constructed scenario improved with volume decline by 11.9% to 6,370 units and 3.6% to 371 units respectively.
The Unsold Property Enquiry System Malaysia (UPESM 2.0) Malaysia was also launched in conjunction with the briefing.
