Johor to resolve problem of unsold luxury homes

Mohamed-Khaled-Nordin-Johor-to-resolve-problem-of-unsold-luxury-homesJOHOR BAHRU: The Johor government will identify the best ways to solve the problem of unsold high-cost housing units in the state.

Menteri Besar Mohamed Khaled Nordin said the methods sought should suit the policy introduced before this.

He said to solve the problem, the state government would collaborate with all relevant parties, including developers.

“Tuanku (Johor Sultan) had touched on this, so perhaps there is the need to look for a suitable policy to avoid frequent changes of policies.

“We will consider the issue, and the matters raised by Bank Negara Malaysia will also be looked into by the state government towards solving the problem,” he told reporters after opening the Pasir Gudang Health Camp, near here, yesterday.

Khaled was asked to comment on Sultan Ibrahim Sultan Iskandar calling on the state government and developers yesterday to find solutions to the problem of unsold houses due to high prices.

The menteri besar also touched on the recently published Bank Negara quarterly bulletin that mentioned Johor as having the highest number of unsold houses at 27%, followed by Selangor (21%), Kuala Lumpur (14%) and Penang (8%).

Bank Negara also reported that Malaysia’s property market was currently facing an imbalance between supply and demand that had resulted in many unsold houses and unoccupied commercial spaces.