Perak's 4,063 Unsold Homes Put Penang's Condo Overhang Into A Product-Mix Warning

Malaysia's latest overhang data show a local supply mismatch rather than a simple luxury glut, with Perak leading completed unsold homes and Penang's inventory concentrated in high-rise units.

Perak Leads The Overhang Table

NAPIC's Q1 2026 status data showed 32,801 completed unsold residential units nationwide, with Perak recording the highest count at 4,063. Johor, Selangor, Kuala Lumpur and Penang followed, making overhang a state and project-level issue.

Penang's Problem Is Vertical

Penang recorded 3,165 completed unsold residential units, up 16 percent from a year earlier. Condominiums and apartments made up about 2,215 units, close to 70 percent of the state's completed unsold stock.

Affordable Prices Still Need Demand

A significant share of Penang's overhang sits in the RM200,001 to RM400,000 range. That shows price labels alone do not clear stock when location, unit type, financing, maintenance fees or transport links do not match household demand.

What Buyers Should Check

Buyers should ask how long a completed unit has remained unsold, what transactions have closed in the project, and whether the developer is discounting comparable stock. A completed unit can be an opportunity only if the discount reflects real absorption risk.

Outlook

Malaysia's next signal is whether developers adjust product mix in Perak, Johor and Penang. Infrastructure promises help only when completed homes match actual buyer budgets and lifestyles.

Search for Properties for Sale and Rent: Malaysia Housing Market.