Unsold Bumi units add to property overhang, says Rehda


Ragananthini Vethasalam Hailey Chung Wee Kye

Rehda president Soam Heng Choon speaking at the Rehda headquarters in Petaling Jaya, where he says projects that fail to cater to the needs of the target buyers are likely to remain unsold. – The Malaysian Insight pic by Najjua Zulkefli, September 30, 2020.

UNSUITABLE locations and pricing as well as state governments’ refusal to release unsold Bumiputera units are among the reasons for a property overhang, Real Estate and Housing Developers’ Association (Rehda) president Soam Heng Choon said today.

He said projects that failed to cater to the needs of target buyers, which are built in the wrong location or unsuitably priced, are likely to remain unsold.


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Comments


  • Stupid policies have always hurt people and will continue to do so. The developers factor this in and inflate the price for non bumi houses. Thats why prices are unreasonably high.

    Posted 2 weeks ago by Alphonz Jayaratnam

  • All businesses are going down because of covid. Bumi or non bumi or whatever businesses are all going down. Those against gov policy will use whatever excuse from facing the actual fact. Somehow developers think they have the birth right to always have profits regardless of market condition.

    Take the loss and sell at lower price for ALL bumi and non bumi units. It can be done if you have the will but as long as they want guaranteed profits, it will not reflect the reality of the situation

    Posted 2 weeks ago by Joe Harry