Slight dip in unsold residential items, says Housing and Native Govt Ministry

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KUALA LUMPUR: The figures for accomplished and unsold residential properties stood at 30,290 items value a complete of RM19.75bil as of the third quarter of 2021, says Deputy Housing and Native Authorities Minister Datuk Seri Ismail Abd Muttalib.

Citing figures from the Nationwide Property Data Centre (Napic), Ismail (BN-Maran) additionally mentioned within the second quarter of this yr, accomplished and unsold residential properties stood at 31,112 items that had been value RM20.1bil.

“This reveals a drop of two.64% by way of items and 1.74% by way of worth, evaluating the third quarter and the second quarter of this yr.

“There’s a slight dip in unsold houses, but it surely is not vital as a result of there are builders who gave reductions to be able to promote houses throughout the present interval of financial uncertainty.”

Ismail additionally mentioned he hoped many builders will think about lowering costs of residential items to be able to guarantee unsold properties could be let go and for the actual property market to recuperate.

Figures shared by Ismail confirmed that probably the most unsold residential items within the third quarter this yr had been in Johor with 6,441 unsold properties, adopted by Penang (4,638), Kuala Lumpur (3,863), Selangor (3,376), Perak (2,865), Sabah (2,742), Sarawak (1,862), Pahang (1,246), Negri Sembilan (1,135), Kedah (637), Melaka (592), Terengganu (458), Putrajaya (229), Kelantan (114), Labuan (68), Perlis (24).

Talking throughout Query Time in Parliament, Ismail mentioned the federal government was conscious of the rising numbers of unsold residential items, and the federal government had launched a number of programmes to handle this, amongst them the Dwelling Possession Marketing campaign (HOC) stamp obligation exemption.

He added that builders registered beneath the Actual Property & Housing Builders’ Affiliation (Rehda) are allowed to present a ten% low cost to consumers intending to purchase homes value between RM300,000 to RM2.5mil.

Nevertheless, Ismail mentioned regardless of the HOC, the sale of residential properties is predicted to decelerate till the tip of this yr.

“Gross sales of actual property items rely upon home and exterior elements such because the rise in uncooked supplies, provide and demand mismatch and sky-rocketing land costs attributable to Covid-19 developments.”

Ismail was responding to Datuk Ahmad Jazlan Yaakub (BN-Machang), who requested on Tuesday (Nov 23), the quantity of unsold property items as of September this yr.

Ismail mentioned the federal government will proceed monitoring the problem of unsold residential items and the problem required cooperation from all sides, together with the Federal Authorities, state authorities, native authorities, and banking establishments, amongst others.

“I consider that with correct steps like this, the problem of unsold homes could be solved as quickly as potential.”

In the course of the tabling of Price range 2022 final month, Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz mentioned the federal government determined to take away the Actual Property Positive aspects Tax (RPGT) for property disposal by particular person residents and everlasting residents once they get rid of their actual property property from the sixth yr onwards.

Tengku Zafrul additionally mentioned the abolishment of the RPBT will assist invigorate the property market and translate to a optimistic multiplier impact on the economic system.



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