Housing and Local Government Ministry: Projects of houses priced below RM300,000 get abandoned most

MCRA: Govt’s plan to delete ‘PR’ in Malaysia’s citizenship laws will affect ‘red IC’ natives’ children the most, remove foundlings’ protectionIts deputy minister Datuk Aiman Athirah Sabu said the 81 projects involve 23,031 unit of houses and 12,565 buyers. — Bernama picKUALA LUMPUR, March 25 — The Housing and Local Government Ministry has recorded 117 abandoned projects covering 30,840 units of houses as at January 31 with 81 of them comprising housing projects priced RM300,000 and below.

“They are made up of 13 projects with a price range of RM301,000 to RM500,000, five projects at a price range of RM500,001 to RM750,000, two projects between RM750,001 to RM1 million and 16 projects for houses worth RM1 million and above,” he said. Among the main factors that cause the surplus of unsold completed houses is the Covid-19 epidemic which affected economic growth and the financial position of buyers besides the sale of houses with high prices but low demand.

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