Kuala lumpur: A total of 32,800 completed residential units, with a combined value of RM16.37 billion, remained unsold as of the first quarter (Q1) of this year. Deputy Housing and Local Government Minister Datuk Aiman Athirah Sabu revealed that 15,400 units, or 46.9 percent, were homes priced at RM300,000 and below. This indicates that the remaining 53.1 percent are homes priced above RM300,000. The issue of unsold homes is not limited to affordable housing but also reflects a mismatch between supply and demand across different segments of the housing market.
According to BERNAMA News Agency, the Deputy Minister addressed these concerns during a question-and-answer session in the Dewan Rakyat. She responded to Datuk Willie Mongin (GPS-Puncak Borneo), who inquired about the number of unsold affordable homes, their price categories, and the homeownership rate among individuals aged 35 and below. Aiman Athirah stated that the homeownership rate among low-income households in Malaysia is 76.3 percent. Addressing challenges faced by youths and first-time homebuyers requires a comprehensive approach.
To tackle these challenges, the ministry is working on strengthening the development of an integrated national housing data repository. This will support more accurate, data-driven planning and policymaking. The new National Housing Policy, currently being finalized, aims to provide housing that meets the needs of the population, enhance the housing financing ecosystem, improve the integrated housing database, and reduce the mismatch between housing supply and market demand.
In response to a supplementary question from Willie regarding rising construction costs and building material prices, Aiman Athirah explained that the pricing of affordable homes is not solely determined by construction costs. It also considers the need to balance housing affordability for the public with the sustainability of property development by developers. The Housing and Local Government Ministry (KPKT) has undertaken affordable housing mapping using median household income data by state and district. This is based on the Household Income and Basic Amenities Survey 2024 published by the Department of Statistics Malaysia. The mapping uses the median multiple methodology to determine genuinely affordable house price ranges based on the purchasing power of residents in each locality.