According to the latest report from the National Property Information Center (NAPIC), houses priced between RM300,000 and RM500,000 recorded the highest number of unsold in Malaysia in the third quarter of 2024.
A total of 7,003 units worth RM2.78 billion, or 31.9% of the total properties are unsold, showing how difficult it is to buy a house at this price right now.
The issue of rising prices has deterred many buyers, making the dream of owning a home even further away, especially for middle-income earners.
Multi-storey houses dominated as the most unsold house type, accounting for 61.2% of the total unsold units.
Although the total number of unsold houses decreased slightly to 21,968 units worth RM13.85 billion compared to the previous quarter, there are still many properties stuck in the market, raising questions about the survival of this property market.
According to Director General of Property Valuation and Services (JPPH), Abdul Razak Yusak, the performance of the property market as a whole is still strong, driven by government support and Malaysia's stable economy.
However, with house prices continuing to rise, it raises the question for whom are the houses built in Malaysia if the people themselves cannot afford to buy them?