Penang has announced a slew of measures to overcome the issue of overhang in the state's housing sector, including loosening requirements that limit sales of units to those residing in the state.

According to state exco Jagdeep Singh Deo, non-Penangites will now be allowed to purchase between 20 to 40 percent of the units available on the market.

"After building, we want to ensure accessibility of these units to buyers...