Malaysia govt orders freeze on luxury property development

In its quarterly bulletin published on Nov 17, Bank Negara had said that Malaysia's property market is facing an oversupply of non-affordable homes and idle commercial space, while demand for affordable housing is not being met.

"This situation could worsen if the current supply-demand conditions persist. Within the country, Johor is poised to have the largest property market imbalances (highest number of unsold residential properties and potentially the largest excess supply of retail space).

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