HONG KONG (Oct 3): When Chinese nationals move money overseas, they often do it the way drug traffickers or terrorists do: They break down cash into small amounts below what would trigger official scrutiny. Moving money in small increments to avoid reporting requirements is called “smurfing”, after the little blue cartoon characters who as small…
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All Posts in Category Market Updates
Forget about 2015, says this real estate expert about the property sector. Best to put this annus horribilis behind us and look ahead to better times in the second quarter of next year. ARE you currently renting or looking to rent? If you are, there might be some good news for you on the horizon….
Read MoreKUALA LUMPUR (Oct 30): The government is considering proposals by property developers to reintroduce the developers interest bearing scheme (DIBS) and relax lending guidelines to promote first home ownership, said Minister in the Prime Minister’s department Datuk Sri Abdul Wahid Omar. He said the Real Estate and Housing Developers’ Association has submitted their requests and…
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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 MoreVARIOUS house ownership programmes for all levels of income have been allocated for in Budget 2016. Prime Minister Datuk Seri Najib Tun Razak said PR1MA would build 175,000 houses, which will be sold at 20% below market prices, with an allocation of RM1.6bil. He said Syarikat Perumahan Negara Berhad would build 10,000 units of Rumah…
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FROM its beginnings in plywood production and manufacturing, Penang developer Asia Green Group has become a diversified business entity today with a fast-growing property development business. It currently has projects worth over RM600 million in total gross development value (GDV). Led by group managing director Tan Boon Huat, Asia Green’s parent Asia Plywood Company Sdn Bhd…
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GEORGE TOWN (Oct 22): The Penang government has once again urged Putrajaya to address the high rejection rate for loan applications to buy low-cost and affordable homes. State housing executive councillor Jagdeep Singh Deo (pictured) said the cheaper the house, the higher the rejection rate for buyers seeking bank loans to purchase the unit. “The cheapest…
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