What percentage of unsold units in Penang are affordable homes?

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Penang Records Significant Unsold Property Inventory, With a Small Fraction Classified as Affordable Housing

Penang currently has 4,683 completed housing units that remain unsold, representing a total value of RM3.66 billion, making it the second-highest in Malaysia for such inventory. Within this substantial stock of unsold properties, a mere 347 units, or 7 per cent, are categorised as affordable homes, priced at RM300,000 and below.
Penang's Unsold Property Stock

The state of Penang has accumulated a significant number of unsold completed housing units, reaching a total of 4,683. This inventory is valued at RM3.66 billion. This figure places Penang behind only Johor, which has 6,509 unsold properties valued at RM4.89 billion.
Proportion of Affordable Housing

Of the 4,683 unsold housing units in Penang, the number of affordable homes priced at RM300,000 and below is 347. This constitutes 7 per cent of the total unsold property stock within the state.
State Government's Stance on Affordable Housing

The state government has consistently advised developers to prioritise the construction of affordable housing projects, specifically those priced at RM300,000 and below. This directive aims to balance profit motives with the need to provide accessible housing options, particularly in the current economic climate impacted by the Covid-19 pandemic.
Incentives for Affordable Housing Development

To encourage developers to focus on affordable housing, the Penang state government has implemented various incentives. These measures include reductions in development-related charges, among other facilitations, designed to support the creation of more housing options within the affordable price range.

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What percentage of unsold units in Penang are affordable homes?

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