Malaysia to Put $5.5 Billion of Homes on the Sale Rack in March

Government plans March expo to offer 22,000 residential units
Property overhang rose 18% in first half of 2018 from year ago

Residential apartment buildings stand in Kuala Lumpur, Malaysia.
Photographer: Sanjit Das/Bloomberg

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By Anisah Shukry

January 28, 2019 at 9:43 AM UTC

This article is for subscribers only.

Malaysia is planning a sale for $5.5 billion of real estate to bridge the gap between property oversupply and lack of affordable homes, with developers asked to offer at least 10 percent discount.

The numbers are staggering: about 180 developers will offer 22,000 units worth a total of 22.5 billion ringgit ($5.5 billion) at the expo planned for March 1 to 3. About a quarter of the property on offer will be priced at 300,000 ringgit or less, said Housing and Local Government Minister Zuraida Kamaruddin, adding that the transactions will be exempt from stamp duty fee.