State Housing Minister Datuk Abang Johari Tun Openg said in the first quarter of this year, the value of unsold completed properties amounted to RM260.76 million, involving 654 housing units, 300 shoplots and 10 industrial premises.
"There are also properties under construction but still can't be sold. They are 1,411 houses and 118 shoplots," he said when opening an online briefing on "Property Information System Malaysia (Pris-ma)", in Kuching yesterday.
Prisma is a National Property Information Centre (Napic) run by finance ministry agency Property Services and Evaluation Department. The sytem enables Napic to collect and make available property information online, helping policymakers and related industries to make decisions on the direction of the national property industry.
Costing abour RM23 million, Napic will use Prisma from next year.
Meanwhile, to avoid supply exceeds demand, Abang Johari has asked Sarawak investors to get latest and accurate information on properties.
"I find the supply surplus is in the commercial ad industrial building units. This can be overcome if the relevant authorities contact Napic to obtain accurate data and information," he said.
Later at a press conference, Abang Johari said the state goverment has no plans to introduce a ceiling price for various types of residential houses, except for low-cost houses in Sarawak, to avoid "mismatch" of supply and demand in the housing industry.
"Let the open market dictate house prices in Sarawak as fixing them can backfire," he said, adding that house prices would fluctuate based on oil and construction material prices.
Stressing that the ceiling price for low-cost houses would be maintained to ensure that low-income earners would be able to own houses, he said "it's much better for the buyers and developers to negotiate the ideal price for the house".