A property research officer says properties remain unaffordable to most as wages are not keeping up with prices.
“Most of these were in the middle-level category, between RM200,000 and RM600,000,” he said after Rahim & Co’s Property Market Review 2019/2020.These homes, he said, were in demand by buyers seeking to live in them. In terms of office space, Sulaiman said there were 32 million square feet of unoccupied space in the Klang Valley, minus those available in Putrajaya.
“But it’s not as gloomy as before. I think we saw the worst in 2017,” he said, adding measures taken by the government, like the Home Ownership Campaign, had helped a bit.He also recommended that state planning authorities work with their local councils to develop property market strategies to avoid adding to the overhang situation.
Solution : sell at affordable price and stop building more.