26,286 Completed House Units Unsold: Akmal Nasrullah
Business Today, 15 November 2023
The Ministry of Local Government Development (KPKT) has informed that the number of unsold ready-built house units amounted to 26,286 units with a value of RM18.3 billion compared to the number of units launched at 135,614 units.
Its Deputy Minister, Akmal Nasrullah Mohd Nasir, said the matter was based on a report issued by the National Property Information Center for preliminary data for the second quarter of 2023.
“This shows a decrease of 5.3 percent in terms of the number of units and a decrease of 0.6 percent in terms of value compared to the same period last year,” he said in the Dewan Rakyat.
He said this when answering a question from Datuk Suhaimi Nasir (BN-Libaran) about what the ministry’s efforts are to overcome the issue of unsold real estate which is caused by the mismatch between the value of built real estate and the ability of the people to own it.
Commenting further, Akmal Nasrullah said, in order to ensure that the issue of dumping of unsold houses can be controlled, the government has and is implementing several actions, firstly the mapping of the Affordable Housing Index (RMM) based on the median income by state and district.
He said, this mapping is a guide for developers and housing agencies to set the sale price of houses in certain localities.
Second, he said, encourage developers to carry out a Feasibility Study before any development is implemented.
“It is to ensure that the houses that are built are based on the people’s ability and then prevent the houses from being sold.
“Third, the ministry is developing the Housing Big Data Analytics System as a centralized reference source for housing data,” he said.
Meanwhile, he stated that the government is committed to promoting home financing through the iBiaya initiative under the Housing Credit Guarantee Scheme (SJKP).
He said the total amount of guarantees given by the government had increased since the scheme was implemented.
“Based on the recent Civil Economy announcement, the total amount of guarantees given by the government has increased to RM10 billion throughout the implementation period of this SJKP.
“Throughout the implementation of the SJKP from 2008 until 30 September 2023, a total of 30,841 loan applications worth RM5.85 billion have been approved.
“Next, the Madani Government through the 2024 Budget has proposed to add another RM10 billion in guarantees to benefit 40,000 borrowers,” he said.
(Web source: https://www.businesstoday.com.my/2023/11/15/26286-completed-house-units-unsold-akmal-nasrullah/)