New Residential Property Launches
- New residential property launches amounted to 10,078 units in 1Q 2018.
- On a quarterly basis, this was significantly lower than the average launches of 16,730 units in the past two years. The lower launches suggest a more cautious stance adopted by property developers in launching new properties amid the elevated levels of unsold properties in the market.
- During the quarter, 23% of new launches were priced below RM250,000, lower than the 32% average share recorded during 2010-2016. If this trend persists, it may exacerbate the current undersupply of affordable housing and an oversupply of higher-end housing.
Source: National Property Information Centre (NAPIC)