Some 180 property developers have pledged to slash the prices of their unsold homes by at least 10% as the real estate sector struggles to clear RM22 billion worth of inventories amid rising prices and tightened financing availability.

The government will host the developers at a mega home sales expo “Home Ownership Campaign” in March, two decades after a similar expo in 1998.

Housing and Local Government Minister Zuraida Kamaruddin said the campaign would be held on March 1-3 at the Kuala Lumpur (KL) Convention Centre.

Speaking at a press conference in Putrajaya, the minister said the sales expo was deliberated and decided during the first National Affordable Housing Council meeting last Tuesday, chaired by Prime Minister Tun Dr Mahathir Mohamad.

“We are bringing back the campaign, which was first held in 1998, to exhibit all the overhang units in the country for sales of at least a 10% discount,” she said.

The campaign would be addressing the sector at a very crucial juncture, where unsold homes have reached a record high of 30,115 units nationwide, Zuraida said.

From the total, some 17,971 units are priced below RM500,000, while the remaining 12,144 are units between RM500,000 and RM1 million.

https://themalaysianreserve.com/2019/01/11/...alleviate-glut/

Willing seller, willing buyer.

Is due to the market situation.
When lauching in 2013-2014. BBB era. Property peak price.
Today 2019 is property slump era.

Normally developer hold units to resell upon VP at a higher price. But not able to do so in today's market.
So no choice but to dispose coz by not disposing out, each units developer need to fork out the unit's monthly maintenance fees and sinking fund.

First lelong unit check in. Can wait for price drop.
So fast strata title issued already? Owners here can verify this? Thank you.

C-16-03, Sky Condominium, Persiaran Puchong Jaya Selatan, Bandar Puchong Jaya, 47170 Puchong
Reserve price 🔥🔥RM 680,000🔥🔥
Freehold
1173 sqft, 2 car park slots
Auction: 16 May 2019 (Thursday)

not worth checking out yet at this pricing.
maybe 2 rounds more only worth taking a further look.

some more strata issued already. will have more check required.

This post has been edited by AskarPerang: May 2 2019, 04:48 PM

Developer units?
How much the price and discount package? Size?

No bidder.
612k next month. Is it cheap enough pricing?

How much is the mainteance fees per sqft here currently?
Wow with 14 X sky deck, 6 X tier security.......

Just to check with the buyer here. Developer IOI already issued strata title to existing owner? So fast and efficient?

No bidder.
New price and details as below:

C-16-03, Sky Condominium, Persiaran Puchong Jaya Selatan, Bandar Puchong Jaya, 47170 Puchong
Reserve price 🔥🔥RM 612,000🔥🔥
Freehold
1173 sqft, 2 car park slots
Auction: 17 Jun 2019 (Monday)

4 bidders just now.
Unit sold at 663k. Brand new virgin condition. KLCC view.
But not sure is a good catch or not. Only the 2nd round auction already people attack this unit.

2nd lelong unit check in from Sky Condo Puchong.
Remember this unit sold at 663k here: https://forum.lowyat.net/index.php?showtopi...post&p=93008460
This coming lelong unit same facing (towards KL City Center), but located at much lower floor (possible view block?)

C-5-3, Sky Condominium
Reserve price 🔥🔥RM 650,000🔥🔥
Freehold
1162 sqft (Type C), 2 car park slots
Auction: 28-Sep-2019 (Sat)
*Non bumi lot
*Vacant unit brand new condition

No bidder yesterday.
Maybe all waiting for below 600k pricing.
New details as below.

C-5-3, Sky Condominium
Reserve price 🔥🔥RM 585,000🔥🔥
Freehold
1162 sqft (Type C), 2 car park slots
Auction: 19-Oct-2019 (Sat)
*Non bumi lot
*Vacant unit brand new condition

Unit sold at reserve price 585k. Single bidder win.
Good catch.

Another lelong unit sold.
Size 1281sqft.
Low level unit.

Sold at 575K.
Good catch?

Lelong unit sold just now.
Size 1302 sqft.

From 600K, sold at 635K.
Good catch?

Lelong unit story:

https://www.facebook.com/share/p/1ES2WmRADa/?mibextid=wwXIfr