Resolving the property overhang:
Anytime is still a good time to buy property as it is an appreciating asset and a good hedge against inflation, advised Siva.
The National Property Information Centre (NAPIC) released its overhang numbers for 2021 last week, it revealed that Malaysia is still far from resolving an issue that has been plaguing the property market for years. The statistics also showed that the level of overhang in the country is at its highest since 2018. The number of unsold units under construction improved, dropping by 2.1% to 70,231 units. However, the number of unsold units not constructed recorded a sharp increase by 69.2% to 21,960 units. Investors in search of quicker returns may decide to turn to the financial markets, rather than to the real estate. Somehow, these two years contributed to growth in the understanding of this underlying process.
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What do you believe should be done to reduce the property overhang?
