KUALA LUMPUR: The Real Estate and Housing Developers’ Association Malaysia (Rehda) has announced its property industry survey for the 2H 2016 period, as well as the market outlook for the first half of this year.
There were 165 respondents to the survey, which involved the association's members across the peninsula.
Rehda president, Datuk Seri FD Iskandar, said that the number of launches by members increased by 11 per cent in the second half of 2016 to 13,276 units.
He said the total number of residential units launched nearly doubled to 12,748. The same follows for commercial units, which almost doubled to 528.
FD Iskandar also said sales performance improved by 6 per cent for the second half of 2016, with 5,973 units sold, compared to 13,276 units launched.
However, he pointed out that the proportion of unsold units for the second half was still quite high, at 72 per cent.
Most of the unsold units range in price from RM250,000 to RM1 million (52 per cent). This is consistent with the first half of 2017, when 53 per cent of unsold units were within the price range.
Among the unsold units priced at between RM500,000 to RM1million, are residences in Tanjung Karang, Selangor.
"In this case, buyers cannot accept such prices for Tanjung Karang," he said.
On why Rehda records high rates of loan rejections as set by Bank Negara and the National Property Information Centre, FD Iskandar said the association also considers granting margins lower than what is applied for as a form of “rejection”, hence the higher figure.