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$5.5b in homes up for grabs in Malaysian ‘mega sale’

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THE Malaysian government has asked property developers to dish out at least 10 percent discounts on homes during an expo in March that would see some RM22.5 billion (US$5.5 billion) in real estate be put on offer.

The drive comes amid the government’s plan to address the oversupply of properties in the country and the lack of affordable homes.

Housing and Local Government Minister Zuraida Kamaruddin said the expo between March 1 and 3 will see about 180 developers offer 22,000 units, of which at least a quarter will be priced RM300,000 or less.

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© Asian Correspondent