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100,000 houses unsold since 2005

Posted by admin

Tuesday, 30 June 2009 01:57

(Bernama) - A total of 111,809 houses worth RM19.9 billion remain unsold nationwide between 2005 and 2008, said Housing and Local Government Minister Datuk Kong Cho Ha.

He said according to the Valuation and Property Services Department, overhang properties accounted for 25,046 units worth RM4 billion in 2005, 31,253 units worth RM5.8 billion (2006), 29,481 units worth RM5.5 billion (2007) and 26,029 units worth RM4.4 billion (2008).

“Most of the overhang properties are in the Klang Valley. They remain unsold due to the prices and unsuitable locations,” he said in a written reply to a question from Hee Loy Sian (PKR-Petaling Jaya Selatan) at the Dewan Rakyat today.

Kong said the National Housing Department would approve the developer licence based on the property market demand to ensure that housing development would be in tandem with the economic growth.

Hee responded by saying that the ministry should solve the property overhang problem, especially in the Klang Valley, instead of approving new projects.

Comments (4) Add Comment

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written by verifunny, June 30, 2009 02:21:37

Try to link those unwanted flats and its developers. See if you find any interesting link leading to conflict of interests.

Why don't do a background check on this minister and its predecessors to understand if they are smart enough to handle this post!

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written by amoker, June 30, 2009 05:08:50

does not include PKFZ?

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written by krising1, June 30, 2009 06:14:05

Read in the main stream papers who always say that the property market is doing well or picking up and should do better this. I wonder why the misleading news? If the developers take risks in building houses, let them bear the consequences. The government should not intervene. Let them bring down the prices so that the public will benefit.

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written by DezMalaysia, June 30, 2009 11:21:40

Last time in Tun Mahathir's era, all are for sale, it's only 5 - 10% discount for Bumiputera.

In Badawi's time & post Bodohwi era, majority of new housing turn out to be "Hanya untuk Orang Melayu sahaja".

Even MCA Fong Chan Onn also say the same thing to his Malacca developer friends. If you want a smooth sailing, make sure we win, build more houses and make sure Malays are majority in every housing area so that BN can win easily. In the end, Melayu dipergunakan untuk kepentingan politik kotor untuk mengaut keuntungan !

Many clever Malays will never buy those Bumi / Melayu units as the property will never appreacite much after 10 - 30 years because it cannot be sold for profit ! How Malays can be rich when they cannot sell after buying to earn profit being a property player ?

UMNO only want their brethens to be stupid to continuously giving them votes to be in power.

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