Residential market overhang increases 3.3% in 1H20

PUTRAJAYA: The residential overhang in the country increased 3.3% to 31,661 units valued at RM20.03bil in the first half of 2020, compared with 30,664 units valued at RM18.82bil in the previous corresponding period, due to slow market absorption of the primary market.

According to the National Property Information Centre (Napic), the number of new launches in the first half of 2020 dropped 43.6% to 13,294 units, compared with 23,591 units in the previous corresponding period.