Property market Malaysia? 500,000 more homes to be built under 12MP. Wow. Info source: Article in theedgemarkets.com
Demand and supply dictates that when supply is increased too much without corresponding demand, then the prices will fall so that more demand can be created. Well, please do not think too much. These new properties targeted at the B40 and the M40 will not be completed within the same year. It’s impossible. Let’s just think that it can be completed in maybe 5 years? Even this looks extremely daunting because 5 years means every year 100,000 homes have to be built.
Do you know how many units of homes do we we actually already have? Well, high-rise wise, there’s already close to 1,000,000 units in 2020. Meanwhile 70% of all properties in Malaysia are landed and only 30% are high-rise units. Charts as below: