Thursday, 23 November 2017

(NST) Government keeping close watch on unsold properties

KUALA LUMPUR: Bank Negara Malaysia’s quarterly 2017 bulletin states that there are 130,690 unsold residential properties.

Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor who told this to Dewan Rakyat said 83 per cent of these unsold units were above RM250,000.

“Of the unsold units, 14 per cent are in Kuala Lumpur while 21 per cent in Selangor,” he said in response to a question by Petaling Jaya Selatan Member of Parliament Hee Loy Sian.

Hee had asked him on steps taken by the Federal government on the glut in vacant and unsold shopping malls, luxury condominiums and commercial complexes Kuala Lumpur.

Tengku Adnan said the ministry has also implemented a policy to address the dearth in affordable homes.

“Based on our records there are 170,095 applications for affordable homes but there are only 44,064 Rumawip (Federal Territories Affordable Housing) which are supplied. So we will continue to offer Rumawip to support this demand," he added.

Hee was responding to the government’s temporary freeze on approvals for the developments of shopping malls, commercial complexes and condominiums which intend to sell their units above RM1 million.

“We have however talked to BNM and other government agencies on how to solve the property glut to address the matter. In Kuala Lumpur, specifically we will study the matter and see how to solve issues stated in the BNM report,” he added.

Reports by: Veena Babulal, Farhana Syed Nokman and Fernando Fong