Johor And Perak Overhang Keep Penang From Being Malaysia's Only Condo Risk

Malaysia's completed-unsold housing problem is broader than Penang, with NAPIC-linked first-quarter data showing Perak and Johor carrying even larger residential overhang counts.

The National Count Rose

NAPIC-linked reporting put completed unsold residential units at 32,801 in Q1 2026, up from 23,515 a year earlier and valued around RM16.37 billion.

Perak And Johor Lead The Table

Perak recorded 4,063 overhang units and Johor 3,852, ahead of Selangor, Kuala Lumpur and Penang. That makes the issue a state-by-state product mismatch.

Penang Shows The Strata Pattern

Penang still matters because nearly 70 percent of its 3,165 completed unsold units were condominiums and apartments, much of it in lower price bands that still did not clear easily.

Outlook

Malaysia's next signal is whether Johor and Perak developers slow launches or increase incentives. Buyers should compare overhang by state, building type and commute value, then ask whether the surrounding jobs and transit actually support the advertised price band.

Malaysia Deal Checks

For Malaysia, the practical check is whether this local signal is visible in signed contracts, bank approvals, registered transfers, lease negotiations, completed works or enforceable public rules. Buyers should compare Johor, Perak, Penang with title documents, service charges, financing terms, physical condition, tax exposure, handover timing, official notices, comparable local evidence, vacancy and realistic exit demand before treating the latest news as a price guarantee.

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