Contributed by Alfred Chong (Lawyer) Buying your first house may be a daunting process with attention required for the following during the pre-purchase stage:- Determining whether to purchase a house under construction or a duly constructed by the Developer or in the alternative purchasing available houses from property owners directly or through auction in the secondary…
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Government proposes to cut housing loan interest rates A proposal which would reduce housing loan interest across banks nationwide is expected to be presented to the Cabinet soon, announced Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, today. The proposal which will ease the financial burden of those applying for house loans, he said,…
Read MoreWITH the demand for property slipping, competition among property developers chasing a shrinking market has become stiffer. Companies such as IOI Properties Bhd and Mah Sing Group Bhd are getting more innovative and holding out big carrots to prospective buyers. IOI Properties, for example, has a buy now, pay later scheme. Under the scheme, if…
Read MoreTHE extraordinary boom in the property market in Malaysia is ending but high house prices and the middle-class obsession with home ownership are likely to persist for a long time to come. Data from the National Property Information Centre’s (Napic) First Half Property Market Report shows that during the first six months of the year,…
Read MoreThe property industry will continue to witness an increase in price, while developers of high-rise buildings are faced with challenges, reported The Borneo Post. Deloitte executive director Tham Lih Jiun noted that prices generally go down once supply exceeds demand. However, she noted that while there are a lot of property at the moment, particularly…
Read MoreTHE Penang government and Bank Negara will hold a workshop early next month to discuss the state housing policy following a fruitful meeting between the two parties. State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said that during the meeting recently, Bank Negara had shared the criteria to be considered when it…
Read MoreIs this the best way to help first-time house buyers? FOR years, developers rode the wave of brisk sales. Part of it was a vibrant market, and a growing economy. Credit was easy and abundant and the introduction of the developer interest bearing scheme (DIBS) made it easier to sell houses. But there was a…
Read MoreGEORGE TOWN : The Penang Chinese Chamber of Commerce (PCCC) says it is willing to build the proposed new category of affordable housing units if the state government gives sufficient incentives. Datuk Finn Choong Khuat Seng, convenor of the chamber’s Property Development Construction and Management Committee (PDCMC), said the committee lauds the recent revision by the…
Read MorePETALING JAYA (Nov 6): The private sector is unable to provide affordable homes at prices on par with Perbadanan PR1MA Malaysia (PR1MA), Rumah Selangorku or other government-backed affordable housing schemes as their land cost and construction cost alone may double the selling prices of these homes, said Knight Frank Malaysia executive director Allan Sim. He…
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KUALA LUMPUR (Oct 24): The ringgit has fallen to record lows in a matter of months, falling to a 17-year low of RM4.2630 against the US dollar in August. Assuming a continued downward decline for the ringgit, what does it mean for the local real estate market? The weaker ringgit may cause property prices to…
Read MoreOwning a home is a keystone of wealth… both financial affluence and emotional security.