THE OVERHANG PHENOMENON: ANALYSING THE UNSOLD RESIDENTIAL PROPERTIES IN MALAYSIA
Nur Khairina Khairul Nizam
Assoc. Prof. Sr Dr. Ruhizal Roosli
Assoc. Prof. Sr Dr. Mohd Hanizun Hanafi
DOI:
Keywords:
Unsold residential, Overhang Issue, Policy, Malaysia
Abstract
The growing issue of unsold and overhung residential in Malaysia highlights a critical concern that needs immediate attention and effective initiative from the stakeholders and policymakers. An overhang unit is a completed residential unit that remains unsold for over nine (9) months. Hence, this study aims to analyze the trends of the overhang and unsold residential units in Malaysia, determine the factors that influence the residential units, and evaluate the effectiveness of the government's initiatives to mitigate the housing overhang. This study uses a descriptive method to review and evaluate the secondary data. The data source is from the academic papers in Scopus and Semantic Scholar, reports, government data and policies to analyze the phenomenon of unsold and overhung residential properties in Malaysia. This study highlights four (4) significant key points such as the value of the overhang units, affordable housing, high-rise residential in urban areas, and the effectiveness of the government's programs. The conclusion of this study is significant for Malaysia and provides a broader perspective for other countries, thereby promoting global stability in housing markets and the economy. It is recommended for further study to explore more innovative approaches and initiatives to mitigate this overhang issue effectively.
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