Developers face property overhang as shortage of cheap housing persists | The Malaysian Insight

Property developers and investors are dropping prices for the first time since the 2008 global financial crisis due to the record-high property glut. – The Malaysian Insight file pic, March 9, 2019.

PROPERTY developers are facing a glut of higher-priced units as the shortage of affordable housing continues to deny most Malaysians of their first home. Home prices on average have hit RM773,000 in Kuala Lumpur and RM497,000 in Selangor by the third quarter of 2018, making them over 100% and 80% higher, respectively, than in 2008, reportedEffective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!

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