Residential overhang worsens in 2017, up 67.2%

April 17, 2018 | By | Reply More

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KAJANG: The residential overhang worsened in 2017, growing by 67.2% to 24,738 units while value grew even higher at 82.8% to RM15.64 billion.

According to the National Property Information Centre (Napic), Johor remained the state with the highest amount of unsold homes, making up 17.7% of the total residential overhang.

This is followed by Penang at 15.8% and Kedah at 15.3%.

Overall, the property sector recorded 311,824 transactions worth RM139.84 billion last year, reflecting a 2.7% drop in volume and 3.8% decline in value.

Residential properties contributed 62.4% of the total transactions recorded last year, followed by agriculture properties at 22.5%.

The number of residential units sold fell 4.1% to 194,684 transactions but value rose 4.4% to RM68.47 billion.

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