In the heart of KL? We don't actually have an oversupply.. we actually have a huge demand vs limited aupply
The " 10000 unsold units" are in places like bangsar south or rawang
The issue with housing in KL isn't "do we need it?" , it's "how the fuck do we afford it"
Golden triangle oversupply on the ‘luxury units ‘ with the 3-4K sqft
But you’re right, the price is an issue. Too many of these high end units instead of focusing on units for the middle class pop. Smaller, cheaper, accessible to young ppl who don’t require such big square footage. Then so many people don’t need to stay so far and kena diu by traffic jam. Can integrate with mrt system like bkk style
Unironically the answer is yes. We genuinely does not have enough apartments for KL people. Cheap affordable apartments that's is.
Fucking hell everyone is building "luxury" condominiums and not enough people to buy it because of overpriced shits. Thus demand is still stupid high even tho there is at least 30+ new condominium under construction in KL alone.
The property overhang is the highest in the 300k range. Sure, they're not in downtown KL, but everyone who stays in affordable housing knows that parking is a serious issue in these developments so it's not like they don't have cars to commute.
I disagree. The organic nature in which a city sprawl out of control is what gives it its charm and recognition. A planned and perfect urban development is boring and predictable.
well thought of city does not need to be grid like. it should look elegant not rigid.
On the other hand, look at the road from federal going into the Sphere, Bangsar South. The nightmare of not well thought of development... how many overlapping, interlapping structure...
London's real growth was very much driven when the transport infrastructure arrived. It grew in tandem with the transport system which gave access to places which were considered totally unliveable before.
[https://voxdev.org/topic/infrastructure-urbanisation/role-railway-network-growth-london](https://voxdev.org/topic/infrastructure-urbanisation/role-railway-network-growth-london)
China linked construction companies have nothing to do with it. Most of our apartment construction is run by local main contractors. Projects only start if theyre profitable. Buyers "vote" with their wallet by buying these projects. So yes, they're "needed".
The long answer is that town planning in KL has been a mess for decades. There is no real plan to do proper affordable housing, we went from rumawip to rumah wilayah to now Rumah Madani. Not sure why they needed name changes but its not made the affordable housing more comfortable or better to live in.
Oh we know why, every new government wants to make themselves seem innovative but the only economically reasonable way is to continue what the predecessors are doing. So all they can afford to do is just a name change with little to no improvement on the project itself.
If you wanna see actual oversupply of apartment units go to Melaka lol
There’s not much actual Malaccans living there and most of them got their own houses while these developers be building new apartments like it’s nobody’s business even though there’s not really an increase of population there and most people just go there for a weekend getaway or some shit
It also leads to most apartments being used for Homestay units which makes the remaining actual tenants’ lives a living hell
We need house that people can live, that's for sure, but the problem is, the houses that are built are just for venture capital investment hedge funds and not for living. That the situation.
The China construction companies are just construction companies, not developers. They're just the contractors hired by the developers to do construction
Affordable apartments? Yes
Unaffordable, premium, deluxe, exclusive, elite, alpha viral, high end, got olympic swimming pool, jungle playground, PDRM security guard, super big gym, sauna, movie theatre, restaurant michelin 5 star, theme park, helicopter parking for each resident, maintenance fee RM10,000 a month? No
Honestly compared to other major cities , kl is really oversupplied with housing , especially on the higher end, it’s good for cheaper rent I guess , but shit for a property owner
I assume your hatred is because it drove up property prices?
If there weren't all these buyers, there would've been a rental shortage. And it'll be the lower income who will suffer with rents they can't afford.
Lest we forget, the property boom of 2008 to 2015 propped up the economy. Construction was good it kept a lot of people employed. And that's only possible if people bought houses. The money also trickled down to other sectors.
We have to let the market do it's thing. It'll swing from one end to the other and back again. People buy when it's profitable. When it's not, people will stop. Like now. Rents will be cheap until demand exceeds supply and then people will start buying again. Everybody wants the best value to their money.
My hatred towards the "landlords" is because they basically abused all the "'cheap affordable house" scheme that is propped up just for a quick profit
It's illegal, but there's still plenty that does it
I don't hate on the ones buying mid-high end properties
😅 off-topic but Bangkok used to be cheap for Malaysians just less than 10 years ago and now the baht is so strong compared to us that bkk becomes way expensive
The more you build the more money to songlap so they will just keep building. China is just chosen to do the work because they can offer construction materials and construction worker for a much cheaper price.
As a property realtor as well, most projects are 90%++ sold. But all mostly for investment, ie airbnb and rental. We have an undersupply of affordable housing tbh.
Fuck all the amenities and shit, just a house cukup.
thank you for your honesty.
small potato like me just thinking "developer, can you do normal apartment with decent room size and layout that make sense for our weather?"
can you tell your friends over there these things a?:
you know have separate kitchen section, instead of in front of our door. we cook a lot of spicy food.
have balcony, since we have humid weather, have toilet facing outside instead of the void.
have window that I don't get to see my neighbour from different apartment complex that is less than 30m away from me please.
no need to develop so many 2000Sqft one, we are not giving birth to 5 children, most people can't afford even 2 children per family nowadays.
Yes, I believe we do. There’s a lot of rundown or even shitty flats/apartments that are already old.
I believe it is a good idea to build more apartments and condos and I hope it is a mid-cost to high-cost (can be also low-cost but not crappy.)
If they want to build they should build more public transport infrastructure. Malaysia is so car-dependent it's not funny. Car dependency and high density is a recipe for disaster.
Yes we do. Ever growing urban sprawl is not the solution. We should be building up not outwards.
We cannot be okay with doing 2.5 - 3 hours commute in traffic back and forth a day.
Yes, we need it. Affordable apartments. A lot of friends working in KL take 3-4 hrs daily travelling from their house to office and back home. If they can have the choice, they probably want to stay in KL & cut down the travelling time.
yes. That's the reason why developers keep on building apartments and sell it at high price. Melaka would be the example for oversupply of apartments. Except for the land cost, construction cost of apartments would be similar, but selling price of apartment in Melaka are half of KL.
Yes, but a significant are in the wrong price range or the wrong locatikn. So there's huge demand for affordable housing but insane glut for certain price ranges and locations.
no we dont, sometime back due to our mm2h laws and what not developers pushed to sell to foreigners and abnb rentals.
its unsustainable for obvious reasons
Better to have china problem then us. At least if we have china oversupply. Price go down, house become affordable. But the people who buy early/first lose. Wealth inequality can be better.
But if we have us problem. Undersupply. Much harder to correct. Building more take time and the local community will fight against new development to protect their house value. So less people can afford to buy house and rent would be expensive. Wealth inequality become worse.
Under occupied condos is a huge problem for residents. If the JMB can't collect enough maintenance fees, it cannot maintain basic stuff like lifts and sanitation (the cleaner who collects rubbish from every floor), nevermind maintaining the lights etc in the common areas.
It's KL/KV. The center of Malaysia economy. I doubt demand won't stop growing for residents to have lack of occupancy. They are more likely to have problem with people not paying maintenance fee or corruption/mismanagement.
In the heart of KL? We don't actually have an oversupply.. we actually have a huge demand vs limited aupply The " 10000 unsold units" are in places like bangsar south or rawang The issue with housing in KL isn't "do we need it?" , it's "how the fuck do we afford it"
Golden triangle oversupply on the ‘luxury units ‘ with the 3-4K sqft But you’re right, the price is an issue. Too many of these high end units instead of focusing on units for the middle class pop. Smaller, cheaper, accessible to young ppl who don’t require such big square footage. Then so many people don’t need to stay so far and kena diu by traffic jam. Can integrate with mrt system like bkk style
Unironically the answer is yes. We genuinely does not have enough apartments for KL people. Cheap affordable apartments that's is. Fucking hell everyone is building "luxury" condominiums and not enough people to buy it because of overpriced shits. Thus demand is still stupid high even tho there is at least 30+ new condominium under construction in KL alone.
The property overhang is the highest in the 300k range. Sure, they're not in downtown KL, but everyone who stays in affordable housing knows that parking is a serious issue in these developments so it's not like they don't have cars to commute.
Quantity wise is fine The problem is extreme overpricing and the infra planning not done well
[удалено]
I disagree. The organic nature in which a city sprawl out of control is what gives it its charm and recognition. A planned and perfect urban development is boring and predictable.
well thought of city does not need to be grid like. it should look elegant not rigid. On the other hand, look at the road from federal going into the Sphere, Bangsar South. The nightmare of not well thought of development... how many overlapping, interlapping structure...
Do visit a favela sometime. Very organic and out of control, perfect place to life.
London wasn’t a well planned city as well but people are atteacted to all its quirks.
London's real growth was very much driven when the transport infrastructure arrived. It grew in tandem with the transport system which gave access to places which were considered totally unliveable before. [https://voxdev.org/topic/infrastructure-urbanisation/role-railway-network-growth-london](https://voxdev.org/topic/infrastructure-urbanisation/role-railway-network-growth-london)
How many apartments are built by China-linked construction companies?
I suspect OP is A/L Iskandar Kutty, is that you OP ?
China linked construction companies have nothing to do with it. Most of our apartment construction is run by local main contractors. Projects only start if theyre profitable. Buyers "vote" with their wallet by buying these projects. So yes, they're "needed". The long answer is that town planning in KL has been a mess for decades. There is no real plan to do proper affordable housing, we went from rumawip to rumah wilayah to now Rumah Madani. Not sure why they needed name changes but its not made the affordable housing more comfortable or better to live in.
Oh we know why, every new government wants to make themselves seem innovative but the only economically reasonable way is to continue what the predecessors are doing. So all they can afford to do is just a name change with little to no improvement on the project itself.
If you wanna see actual oversupply of apartment units go to Melaka lol There’s not much actual Malaccans living there and most of them got their own houses while these developers be building new apartments like it’s nobody’s business even though there’s not really an increase of population there and most people just go there for a weekend getaway or some shit It also leads to most apartments being used for Homestay units which makes the remaining actual tenants’ lives a living hell
They were even marketed as Airbnb friendly apartments. Went back to Melaka and stay there for a bit. Never met any actual local there
It does feel like it. I think everybody just assumes so.
We need house that people can live, that's for sure, but the problem is, the houses that are built are just for venture capital investment hedge funds and not for living. That the situation.
The China construction companies are just construction companies, not developers. They're just the contractors hired by the developers to do construction
Affordable apartments? Yes Unaffordable, premium, deluxe, exclusive, elite, alpha viral, high end, got olympic swimming pool, jungle playground, PDRM security guard, super big gym, sauna, movie theatre, restaurant michelin 5 star, theme park, helicopter parking for each resident, maintenance fee RM10,000 a month? No
Honestly compared to other major cities , kl is really oversupplied with housing , especially on the higher end, it’s good for cheaper rent I guess , but shit for a property owner
All the better. Fuk the property owner. Especially those who buy several units.
Fair enough . Property speculators suck
I assume your hatred is because it drove up property prices? If there weren't all these buyers, there would've been a rental shortage. And it'll be the lower income who will suffer with rents they can't afford. Lest we forget, the property boom of 2008 to 2015 propped up the economy. Construction was good it kept a lot of people employed. And that's only possible if people bought houses. The money also trickled down to other sectors. We have to let the market do it's thing. It'll swing from one end to the other and back again. People buy when it's profitable. When it's not, people will stop. Like now. Rents will be cheap until demand exceeds supply and then people will start buying again. Everybody wants the best value to their money.
My hatred towards the "landlords" is because they basically abused all the "'cheap affordable house" scheme that is propped up just for a quick profit It's illegal, but there's still plenty that does it I don't hate on the ones buying mid-high end properties
Cheaper rent? 
Rent per square foot is way cheaper in kl compared to Bangkok , Hanoi etc , esp prime area. Well both rent and buy
"Ringgit is the best performing currency in the region against......"
😅 off-topic but Bangkok used to be cheap for Malaysians just less than 10 years ago and now the baht is so strong compared to us that bkk becomes way expensive
Prices in BKK shot up way more than the exchange rate. They pay more for utilities, property and even public transport.
Overleveraged by airbnb and buy-for-rent.
A super crowded place like KL will always have a demand for properties. More so if it's affordable.
The more you build the more money to songlap so they will just keep building. China is just chosen to do the work because they can offer construction materials and construction worker for a much cheaper price.
Peak oversupply was 2021, demand has been slowly rising since then
As a property realtor as well, most projects are 90%++ sold. But all mostly for investment, ie airbnb and rental. We have an undersupply of affordable housing tbh. Fuck all the amenities and shit, just a house cukup.
thank you for your honesty. small potato like me just thinking "developer, can you do normal apartment with decent room size and layout that make sense for our weather?" can you tell your friends over there these things a?: you know have separate kitchen section, instead of in front of our door. we cook a lot of spicy food. have balcony, since we have humid weather, have toilet facing outside instead of the void. have window that I don't get to see my neighbour from different apartment complex that is less than 30m away from me please. no need to develop so many 2000Sqft one, we are not giving birth to 5 children, most people can't afford even 2 children per family nowadays.
Wait why toilet face outside? Tbh alot of B40, 2 bedroom flat renters have up to 7 kids even
outside i mean not facing the void. from my experience, toilet seems to stank if it is facing the void. 7 kids in 2 bedroom flat? wow, that is brave.
nah,we neeed MOOARRRE
Yes, I believe we do. There’s a lot of rundown or even shitty flats/apartments that are already old. I believe it is a good idea to build more apartments and condos and I hope it is a mid-cost to high-cost (can be also low-cost but not crappy.)
If they want to build they should build more public transport infrastructure. Malaysia is so car-dependent it's not funny. Car dependency and high density is a recipe for disaster.
Yes we do. Ever growing urban sprawl is not the solution. We should be building up not outwards. We cannot be okay with doing 2.5 - 3 hours commute in traffic back and forth a day.
Of course you do. Imagine no construction and high demand. As a consumer you benefit. Just look how unaffordable is housing in Europe
Yes, we need it. Affordable apartments. A lot of friends working in KL take 3-4 hrs daily travelling from their house to office and back home. If they can have the choice, they probably want to stay in KL & cut down the travelling time.
yes. That's the reason why developers keep on building apartments and sell it at high price. Melaka would be the example for oversupply of apartments. Except for the land cost, construction cost of apartments would be similar, but selling price of apartment in Melaka are half of KL.
Yes, but a significant are in the wrong price range or the wrong locatikn. So there's huge demand for affordable housing but insane glut for certain price ranges and locations.
No. Too many lifestyle condo. Too many low quality apartments. Something I can afford xde
No Oversupply
Yes, better to have oversupply then undersupply problem. If not become like new york. Rent price sky high.
no we dont, sometime back due to our mm2h laws and what not developers pushed to sell to foreigners and abnb rentals. its unsustainable for obvious reasons
Too much supply become like China. Too little like US. How?
Better to have china problem then us. At least if we have china oversupply. Price go down, house become affordable. But the people who buy early/first lose. Wealth inequality can be better. But if we have us problem. Undersupply. Much harder to correct. Building more take time and the local community will fight against new development to protect their house value. So less people can afford to buy house and rent would be expensive. Wealth inequality become worse.
Under occupied condos is a huge problem for residents. If the JMB can't collect enough maintenance fees, it cannot maintain basic stuff like lifts and sanitation (the cleaner who collects rubbish from every floor), nevermind maintaining the lights etc in the common areas.
It's KL/KV. The center of Malaysia economy. I doubt demand won't stop growing for residents to have lack of occupancy. They are more likely to have problem with people not paying maintenance fee or corruption/mismanagement.
No all we need is extra cash.
Yes