How Will The Government Address Our Property Overhang?

Malaysia's property market continues to face headwinds. An issue which is seldom focused on is the level of property overhang in Malaysia. According to the National Property Information Centre (Napic), the residential overhang at the end of 3Q22 stood at 30,000 units worth RM20 bn. More worrying is Napic's revelation on ageing of the total overhang numbers where 71% of the properties have not been sold for the past 5 to 10 years. What does this mean for the state of developers' balance sheets as inventory has to written down and what sort of policies should the government be looking at to address this? For insights, we speak to Pankaj C Kumar, Business Commentator.