KUALA LUMPUR, June 29 - Approximately 32,800 completed residential units, with a combined value of RM16.37 billion, remained unsold as of the first quarter (Q1) of this year.
Housing and Local Government Deputy Minister Datuk Aiman Athirah Sabu said that of the total 15,400 units, 46.9 per cent were homes priced at RM300,000 and below.
“This indicates that the remaining 53.1 per cent are homes priced above RM300,000. The situation shows that the issue of unsold homes is not confined to affordable housing, but is also driven by a mismatch between supply and demand across various segments of the housing market,” she said during the question-and-answer session in the Dewan Rakyat today.
Athirah was responding to Puncak Borneo MP Datuk Willie Mongin's query on the number of unsold affordable homes, their price categories, and the actual homeownership rate among those aged 35 and below.
She added that the homeownership rate among low-income households in Malaysia stands at 76.3 per cent, and that addressing homeownership challenges faced by youths and first-time homebuyers requires a more comprehensive approach.
To that end, the ministry is strengthening efforts to develop an integrated national housing data repository to support more accurate, data-driven planning and policymaking.
“Through the new National Housing Policy, which is being finalised, the government is placing emphasis on providing housing that is more responsive to the needs of the people, strengthening the housing financing ecosystem, enhancing the integrated housing database, and reducing the mismatch between housing supply and market demand,” Athirah said.
Responding to Willie's supplementary query on rising construction costs and building material prices, she said that the pricing of affordable homes is determined not solely by construction costs but also by the need to strike a balance between public housing affordability and the sustainability of property development by developers.
“The Housing and Local Government Ministry has already undertaken affordable housing mapping using median household income data by state and district, based on the Household Income and Basic Amenities Survey 2024 published by the Department of Statistics Malaysia,” Athirah said.
The mapping uses the median multiple methodology to determine house price ranges that are genuinely affordable based on residents' purchasing power in each locality.