KUALA LUMPUR (Nov 24): Hotels, chalets, restaurants and houses are among the 11 illegal structures erected on the hills in the southwest district of Penang, according to the 2014 Auditor-General’s Report. The 11 illegal structures do not have a certificate of fitness (CF), which renders the Penang Island City Council (MBPP) unable to collect assessment…
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All Posts in Category Market Updates
THE 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 MoreGEORGE TOWN (Nov 20): The Penang government has set up a new Urban Regeneration Committee to look into the redevelopment and upgrading of old housing schemes, says state housing exco Jagdeep Singh Deo (DAP-Datuk Keramat). Jagdeep told the state legislative assembly sitting yesterday that the new committee, chaired by him, would look into planning and implementing…
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 Real Estate and Housing Developers Association (REHDA) does not expect home prices to drop, instead developers will construct smaller homes, reported Bernama. This comes as developers had to bear the increased cost for development projects, said its chairman, Datuk Jerry Chan. “Today, we have to deal with all these contributions, so who will…
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…
Read MoreReal estate investors in Malaysia are very alert to any change in Real Property Gains Tax (RPGT), especially during October, when the national budget is tabled in parliament. That’s because RPGT could be the deciding factor in deciding whether to sell now or later. Since 2007, we have seen a gradual increase in the RPGT…
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