More residential properties unsold
in last quarter of 2004
The Star 13/05/2005
PUTRAJAYA: The number of residential units unsold in the last quarter of
2004 increased by 6,258 to 15,558 compared with the corresponding period
in the previous year.
In the last quarter of 2003, there were 9,300 unsold units with most
having been in the market for two years.
Deputy Finance Minister Datuk Dr Ng Yen Yen said the bulk of the unsold
units were in Selangor (4,850 units) and Johor (3,785 units), with most
being terrace houses and condominium units.
“Developers should conduct comprehensive market surveys to avoid a
mismatch between demand and supply in the property market. They should
undertake pre-launch registration as a strategy to gauge the demand for
and viability of housing projects,” she said when launching the 2004
Property Market Report, 2004 Fourth Quarter Property Stock Report, 2004
Fourth Quarter Property Market Status Report and the 2004 Third and Fourth
Quarter Malaysian House Price Index at the ministry here yesterday.
She said local developers must realise that demand did not hinge on
location alone, adding that design, landscaping and finishing also
mattered.
She described security as an ”emerging factor” due to the increasing
number of single women who could afford to buy their own homes.
“For them, apart from good location and designs, enhanced security
features are a must,” she added.
On overall transactions in the property sector last year, she said there
was a 20.5% increase compared with 2003, with 293,212 transactions valued
at RM59.96bil being the highest recorded over the last decade.
However, she said, overall sales of newly-launched residential units went
down by 4.3% due to the higher number of newly-launched units.
Dr Ng said housing projects in the Klang Valley continued to record
favourable sales, followed by Johor.
Demand for commercial property, she said, also remained promising in line
with the country’s favourable economic indicators. |
| |
|
