KAJANG: The slow property market has led to the increase in residential overhang numbers which as of 1H2018 totals 29,227 units worth RM17.24 billion. This was an increase of 18.1% in volume and 10.2% in terms of value from last year (2017).

According to the Preliminary Property Market Brief 2018 for the first half of the year, launched by the Valuation and Property Services Department (JPPH) under the Finance Ministry yesterday, many of the overhang units are properties priced from RM500,000 to RM1 million — with a total of 7,525 units valued at RM5.17 billion.

In terms of transactions, the overall property market recorded a marginal decline in the first half of 2018 (1H2018) with 149,889 transactions worth RM67.74 billion, a decrease of 2.4% and 0.1% respectively, from 1H2017 which recorded 153,526 transactions worth RM67.83 billion.

https://www.edgeprop.my/content/1433371/uns...mes-record-high

The above unsold numbers are for primary market, secondary i.e subsale number is believe to be over 3 times of primary.

Property market is on 10th. consecutive quarters of decline.

Ekceli bumi dominant area more problem, harder to get the approval than non bumi area. Damn hard to justify why can’t get bumi buyer.

Sell to bumi, the issue is always...bad credit rating. I had 3 bumi buyers before I sold my unit to the Singh fella which was at U5 Shah Alam area, 2 of the bumi buyers salary around 5k also cannot get 150k loan approved. One owe CC too much, the other had bad record always delay 2-3 months then pay car loan 🤦‍♂️