GEORGE TOWN – Muda has criticised the Penang government for continuing to approve new housing projects despite the state grappling with a property overhang of nearly 2,800 unsold units.
In a statement today, Penang Muda chapter chief Andika Putera said that while the state’s decision to expand a 5% housing discount to all buyers may help stimulate the market, it fails to address the root causes of the overhang.
Citing the Penang Property Market Report for Q4 released by the National Property Information Centre (NAPIC), Andika noted that there were 2,796 unsold residential units across various categories.
“This raises serious concerns about the planning and management of the state’s housing sector,” he said.
“Why is the state government still approving new projects when thousands of existing units remain unsold? Are (housing) needs being prioritised, or are other factors influencing these decisions?”
He urged the state government to take a more holistic and long-term approach, including conducting a comprehensive study to identify the underlying causes of the overhang — such as issues related to pricing and location.
“There must be tighter monitoring of developers to ensure that approved projects actually meet the affordability and needs of the public, particularly those in the B40 and M40 groups,” Andika added.
His remarks follow Chief Minister Chow Kon Yeow’s announcement yesterday that the state is considering expanding a 5% discount — initially offered only to Indian Muslim buyers — to all homebuyers, in response to backlash over the community-specific policy.
The discount was introduced for residential and commercial units under the new Madani Home Ownership Campaign (MOC), part of the Madani Inclusive Property Sector Catalyst Policy.
Chow has since directed state Housing and Environment executive councillor Datuk Seri S. Sundarajoo to refine the policy with developers to ensure the voluntary discount is extended to all buyers, in line with principles of inclusivity and social justice. – June 9, 2025

