Foreign Property News | Posted by Aye Myat Thu
Mismatch is between housing demand and supply in the affordable segment.
The number of unsold housing units in Malaysia increased to about 146,196 at the end of the first quarter of 2018, signalling a persistent “imbalance in the property market,” the central bank stated in a new report.
More than 80 percent of the unsold units were priced above MYR250,000 (USD60,361), the report issued yesterday Bank Negara Malaysia revealed.
Only 20 percent were priced below MYR250,000.
The maximum affordable house price in Malaysia has been determined to be around MYR282,000.
More than 70 percent of loans approved in the first quarter were for first-time buyers of residential properties priced below MYR500,000.
Three-quarters of new loans approved were extended to borrowers with debt service ratios (DSR) of less than 60 perce The number of borrowers with three and more outstanding housing loan accounts grew slower at 0.8 percent as of the end of the second quarter of 2018. The segment accounted for less than three percent of total housing loan borrowers.
Ref: Property Report
