Malaysia Property Trend
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Projects in Malaysia
Projects in the real estate industry in Malaysia is known as a planned development of a specific parcel of land by a developer, usually encompassing the construction of multiple residential units like apartments, condominiums, or terrace houses, often including shared amenities like swimming pools, gardens, and security features, all marketed and sold together as a single development initiative; essentially, a new housing complex being built and marketed by a developer. There are 4 variety of projects known in the market, as follow: Ongoing, Completed, Upcoming and Overhang.
Ongoing or current projects are projects that has been approved by the Governement of Malaysia by with The Advertising Permit and Developer’s License (APDL) to market the property for SALE. The project is still under construction and is NOT COMPLETED on site.
The APDL is an approval that’s given by the local housing ministry to grant permission to advertise and sell property. That means it’s a legal requirement for developers, if they want to complete the sale of any and all units in a project.
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A completed real estate project in Malaysia is a building or development that has been constructed and is ready to be occupied or sold. The project must meet certain standards and be signed off by a Certificate of Completion and Compliance (CCC).
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Upcoming projects also known as pre-launch projects is a real estate development where a developer announces a new project to potential buyers before all necessary regulatory approvals are secured, essentially presenting the concept and design of the building while construction is yet to begin, often with the aim of generating early interest and securing funding by taking reservations from buyers even as approvals are pending; this stage usually involves higher risk for buyers due to uncertainties regarding final permits and construction timelines, but there are also unexplored opportunities as more desirable lots are available to choose from.
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Overhang Projects
Overhang projects are residential units which have received Certificate of Completion and Compliance (CCC) but remained unsold for more than 9 months after launch.
A property overhang reflects an area of the market where the supply of available properties is higher than demand. This can occur for any number of reasons, and markets tend to balance out in the long run.
However, these imbalances are often resolved as property prices adjust or new sellers enter specific market segments.
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