National Property Information Centre data shows 33,094 completed residential units were unsold in the first half of 2026, up from 30,471 in the preceding half-year.
PETALING JAYA: Completed but unsold homes in Malaysia are now worth RM17.78 billion, raising fears that Budget 2027’s drive to widen homeownership could deepen the oversupply unless the government first helps to move existing stock.
Universiti Teknologi Malaysia property economics and finance expert Assoc Prof Dr Muhammad Najib Razali said the budget’s housing incentives offer a chance to address the overhang, but new supply must be matched to real demand.
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National Property Information Centre data shows 33,094 completed residential units were unsold in the first half of 2026, up from 30,471 in the preceding half-year.
About 37.3% were priced at RM300,000 or less, so the problem extends into homes marketed as affordable.
Najib said demand depends on more than price, adding that location, accessibility, suitability and loan eligibility all play a part.
He was commenting on Budget 2027’s housing measures, including financing guarantees of up to RM20 billion under the Housing Credit Guarantee Scheme for about 80,000 first-time buyers, and nearly RM1 billion for programmes such as Rumah Mesra Rakyat and Program Residensi Rakyat.
Stamp duty relief for first-time buyers has also been extended, with full exemption for homes up to RM500,000 and partial relief up to RM750,000.
Najib welcomed the package but said the priority should be getting existing unsold stock bought, rather than focusing only on new projects.
Loan guarantees and stamp duty relief could steer buyers towards suitable completed homes near workplaces and amenities, he said. Closer coordination among banks, developers and housing agencies could also ease access to financing and match buyers with available units.
He said new schemes should rest on thorough market studies so that they do not worsen existing imbalances.
Najib also welcomed plans to use strategic Kuala Lumpur land for affordable housing, including at least 2,500 Rumah Madani units in Belfield.
He said Budget 2027 should be judged not only by homes built or transactions volumes but also by how far it cuts unsold
