With the gloomy economic outlook, more and more housing units were abandoned.    Would this affect potential buyers or due to the economy crash, will buyers grab the opppotunity to start their investment in properties?

With the claim that merely 2% of housing projects are abandoned, which means that for every 100 buyers, 2 are facing the devastating effect of the ghostly properties. A dream to enjoy your home sweet home somehow turns out to be a little bit bitter.

The cries of the properties owners..

1) The are inexperience developers who have failed to manage their construction and cash flow causing projects to be abandoned.

2) Even if your project has been completed as promised, the whole original concept and amenities that are vital for the success the project were not fulfilled.

3) Laws in Malaysia do not favour victims of stalled projects and investors might be fighting for years to revive their ghost town.

4) Contracts made between developers and house buyers do not involve the ministry. The ministry only play the role of a mediator  and their power are limiting regarding abandoned projects.

5) Even if u end up in an abandoned property, purchasers must make loan repayment to the bank with interest charged.

6) Social problems are common due to the lost in properties investment such as suicide, heart attacks,..

7) Distressed owners who are not fully advise by their lawyers may want to sue the development. Even if u have won in court, the developer may not have the money to pay you. You will also be subjected to legal fees which can be quite unreasonable.