SELANGOR has the most number of abandoned or “sick” housing projects based on statistics released by the National Housing Department as at Oct 21, 2022. According to the Housing and Local Government Ministry, a “sick” housing project is one that has been delayed by more than 30% of its scheduled process or where the sale and purchase agreement (SPA) has lapsed. There are 387 “sick” projects in the country. Out of this number, the department listed 73 in Selangor with 14,774 units involving 7,423 buyers. Selangor also has 62 delayed projects comprising 9,842 units and affecting 6,496 buyers. Despite holding pole position with the most number of “sick” housing projects in the country, statistics further show that in the same period 674 housing projects with 134,007 units were launched in Selangor involving 59,710 buyers. Overall, there are 816 licensed housing projects in the state.........

Should enact law for runnaway developers

Selongor highest.

Top 3 red-flag locality.

Klang topped the list with 39 abandoned projects, Kuala Langat was second with 20 and Hulu Langat in third place with 13.

Klang is definitely a red zone. Even people who don't play the property game would know Klang properties are considered high risk

The article did not give any locality breakdown of the same for KV.

I wonder anyone here with the info?

did you even read?

Last year, Selangor housing, urban well-being and entrepreneur development committee chairman Rodziah Ismail in a StarMetro report said that Klang topped the list with 39 abandoned projects, Kuala Langat was second with 20 and Hulu Langat in third place with 13.

Based on average, Selangor sakit projects contains 170++ units per projects, most likely are small time developers doing those small individual title homes, FT projects are averaging 600 units per project sakit, most likely highrise developments, the Kuchai Lama project highly likely inside the report

There are few other Acts to prosecute directors. If only the housing ministry, macc etc wants to take action, another new Act is just to make the minister 'popular'

Based on average, Selangor sakit projects contains 170++ units per projects, most likely are small time developers doing those small individual title homes, FT projects are averaging 600 units per project sakit, most likely highrise developments, the Kuchai Lama project highly likely inside the report

The actually figure could be higher as not all residential projs under HdA, eg SOHO SOFO etc..so yeah the abandoned unit could be much more in the market right now

Number of delayed project is likely to rise in the near future.

There are many solutions..
1) build then sell (hybrid model still under study), there are few developers in the market implemented BTS model in certain projects
2) insurance for abandonment: straight forward case, insure victims in case of housing abandonment
3) land acquisition act: government to acquire the abandoned project land to aid in revival scheme
4) further tax incentives for white knight to undertake abandoned project scheme

And many more

1.Is no different buying from subsale and plenty in the market. Nowadays, many in subsale are just VP units.

Interest payment cost by developers will be included in the selling price... nothing is free.

The problem with some buyers is they want easy method to property ownership without own money effort.

2. Buyers can always buy on their own initiative. Any extra cost by developers will be passed to buyer ... nothing is free.

Is the level of risk he can handle. Similar to 3rd party and comprehensive motor insurance or medical or life.

3 / 4 . Most of the revival of abandoned projects are govt initiatives, either directly or indirectly. The state govt will not pump in money but they have waived fees and other costs due or payable to the govt.