“Industry players expect market sentiments to improve in the first half of next year, driven by seasonal effects such as Chinese New Year, companies giving out bonuses or salary increments which could help boost property sales.”

Rehda president Datuk Soam Heng Choon: These are actual sales, not developer’s calculations. The buyers have already gotten their loans and need certification from us for stamp duty exemption.

Absence of end financing is the top reason for the higher number of unsold units in the first half of 2019 (1H19), according to Rehda.

The move is expected to help with the sale of properties priced at RM600,000 and above that make up between 60% and 70% of unsold properties in the state.

Johor state housing, communications and multimedia committee chairman Dzulkefly Ahmad has revealed that Johor currently has the highest number of unsold completed properties in Malaysia, with 6,066 units worth about RM4.06 billion floating in the market for over two years now. Nearly 60% of these units are priced at RM500,000 and above.

Iskandar Regional Development Authority has also been talking stakeholders such as the Johor government and property developers about ways to revive the property market.  

We picked nine ladies who are leaders in the real estate industry, especially in property development, to provide some pearls of wisdom on what it takes to excel in a male-dominated industry. Happy National Day and Happy National Women’s Day to one and all!

“As long as the condition of the environment improves, Pasir Gudang will still do well [attracting investment], and as employment opportunities increase, more people will be buying residential properties and will stay in Pasir Gudang,” said Rehda Johor chairman Datuk Steve Chong Yoon On.

“We are not pointing fingers at any party, but current market conditions have changed and we need more flexible housing policies and all stakeholders, including banks and property valuers, need to have an open mindset to solve the problems.”