SEPTEMBER 29 — I can accept if they say the national debt is RM1 trillion after considering contingent liabilities. But to say the value of unsold units in the high-end housing market is now worth RM100 billion is something else. And to organise a house ownership campaign campaign in China or Hong Kong to attract them to come and buy is another thing.
In January, The National Property Information Centre published the Q3 2018 data which showed that the number of unsold houses in Malaysia had reached a new high of 30,115 worth RM19.54 c. But a property consulting firm reported at end-September 2018, Malaysia’s property overhang was 43,219 units worth RM29.47 billion .
There is no necessity for an HOC in China or Hong Kong. Let the private developers deal with problems of their own doing.