The Royal Institution of Surveyors Malaysia (RISM) is pleased to announce the release of its publication entitled Investigating Property Overhang: Policy Analyses. This publication is a collaborative research by the Property Surveying Division of The Royal Institution of Surveyors Malaysia and Jabatan Penilaian dan Perkhidmatan Harta (JPPH).
Property overhang is a long outstanding issue in the Malaysian Real Estate Industry. First highlighted after the 1997 Asian Financial Crisis, the issue persists until today in spite of the various measures taken by the government. The statistics on residential property overhang as at Q3 2019 reveals that the magnitude of the problem is three times more in volume and eleven times more in value than the first overhang data captured in 2004. Residential property overhang is not only an issue to the developers but equally important is to consider the social costs that it presents to the house-buyers and the community in which the overhang units exist. Hence, it becomes urgent to address and rethink some of the policies and measures to address the overhang issue.