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PROPERTY NEWS
PR1MA Not on Track With Objectives

PETALING JAYA: The 1Malaysia People's Housing Programme (PR1MA), which was meant to alleviate the affordability issue in Malaysia, is facing difficulties in achieving its objective due to the way it is implemented. National House Buyers Association (HBA) secretary-general Chang Kim Loong told ...
Bank Negara's 6 Policy Options to Reduce Property Market Imbalances

KUALA LUMPUR: Bank Negara Malaysia (BNM) has issued six policy options to reduce supply-demand imbalances in the property market, warning that the oversupply of office space and shopping complexes in major states may worsen with incoming supply. It said on Friday the oversupply will be exacerb...
Finance Minister II: Indefinite Freeze on Luxury Property Projects From Nov 1

KUALA LUMPUR: The government has frozen indefinitely approvals for luxury property developments from Nov 1, to control the oversupply from adversely affecting the economy. Finance Minister II Datuk Seri Johari Abdul Ghani said today the Cabinet decided this after scrutinising a detailed Bank N...
Property Glut Highest Level in a Decade, Who's at Fault?

PETALING JAYA: Bank Negara Malaysia (BNM) has responded to reports on the country facing a residential property glut, warning that it is at the highest level in a decade, The Straits Times reported. According to BNM, the pricing of residential properties at above RM250,000 is the main reason f...
Fuel Price Still Acceptable, Says Minister

KUALA LUMPUR: The government does not plan to intervene and address the increasing fuel prices in the country at the moment, as it remains at an acceptable rate, said Datuk Seri Johari Abdul Ghani. The Finance Minister II said the government would only consider stepping in if the global crude ...
Home Financing: Approval Rate Improving?

ARE housing loan approval rates slowly increasing? There are various accounts on this with property developers saying that a big number of housing loan applications by potential buyers, especially first timers, have been rejected by lenders. The Real Estate and Housing Developers’ Associa...
Bina Puri Confident About Bagging RM1b Worth of Jobs

KUALA LUMPUR: Bina Puri Holdings Bhd is confident about securing RM1 billion worth of construction and infrastructure jobs in the next six to nine months, its group executive director Datuk Matthew Tee Kai Woon said. The group has been securing projects in excess of RM1 billion on a yearly bas...
Government on Track to Get RM2billion IBS-Based Projects

KUALA LUMPUR: The government, through the Malaysian Investment Development Authority (MIDA), is on track to achieve an additional investment of RM2 billion for approved projects that adopt the industrialised building system (IBS) by 2020. International Trade and Industry Minister Datuk Seri Mu...
Airbnb to Support Sustainable, Inclusive Tourism Projects in Asia-Pacific

KUALA LUMPUR: Airbnb, the world’s leading community-driven hospitality company, announced it will invest US$2 million through 2020 to promote and support innovative tourism projects throughout Asia Pacific. The commitment is part of Airbnb's vision to strengthen communities through healthy t...
Rural Infrastructure to Reap Rewards From Budget 2018, Says Analyst

KUALA LUMPUR — Rural development will form a significant part of Malaysia’s infrastructure sector next year following a slew of allocations in Budget 2018 by Prime Minister Datuk Seri Najib Razak, BMI Research said in a report on Tuesday, 14 November. The research house said there is a si...
No, Property Market Won’t Crash in 2018, Say Other Experts

PETALING JAYA: Real estate players say its unlikely that the property market will take a “terrible hit” in 2018 as predicted by property expert Ernest Cheong. They said that the “facts and figures” pointed to a less negative outlook. Yesterday (Monday, 14 November), Cheong, a real e...
Property Market Will Be Badly Hit in 2018, Says Expert

PETALING JAYA: The property market will take a terrible hit next year, with developers and house owners facing one of the toughest times to find buyers, says a real estate veteran. Ernest Cheong said it could lead to a market crash as consumers do not have the financial capacity to own homes w...
Would You Consider Rent-to-Own?

Would Malaysian homebuyers be receptive to rent-to-own (RTO) schemes? While many of us may not be familiar with the concept of RTO, there is little reason for us not to welcome the idea as long as the benefits outweigh the cons. The RTO concept basically allows potential buyers to purchase a p...
Number of Unsold Completed Residential Units Up 40% to 20,807 Units

PUTRAJAYA: The number of unsold completed residential units rose by 40% to 20,807 units in the first half of 2017 (1H17) compared to the same period last year, said Deputy Finance Minister, Datuk Lee Chee Leong. He said the units were worth RM12.26billion. “Condominiums and apartments cos...
Local Contractors Not Good Enough for MRT 3. Locals Hope Foreigners Will Take the Project

Describing the proposed tender for the third mass rapid transit line (MRT3) as a “negative surprise”, Nomura Securities Malaysia Sdn Bhd said the tender process could negatively affect the Malaysian construction stocks, considering that Mass Rapid Transit Corp Sdn Bhd (MRT Corp) is yet to fin...
China Buyers Eyes RM3 Million Properties in Malaysia

KUALA LUMPUR ― Malaysia is popular among China's house buyers who are looking for properties at an ideal price range of between RM1.2 million and RM3 million per unit, international property portal Juwai.com has said. Citing data in the first six months this year, Juwai.com chairman Georg Ch...
Ikea Launches Online Shopping in Southeast Asia

Good news for late-night compulsive online shoppers in this region: Ikea has launched its e-commerce channel in Singapore, and Malaysia is next. The Swedish furniture giant is officially ready for orders at Ikea.sg, and is scrambling to make Malaysia next, in mid-2018. The site has quietly ...
GE14: Prepare for April-May Vote

PETALING JAYA: The 14th general election is likely to be held between April and mid-May, with the window to call for polls this year practically slammed shut. The Barisan Nasional’s five-year term ends on June 24 next year, and an election must be held within 60 days following the dissolutio...
Government Holds the Key to Affordable Housing

Datuk Alan Tong has over 50 years of experience in property development. He is also the group chairman of Bukit Kiara Properties. Here, he shares his two cents on the property industry in Malaysia. The mismatch of housing demand and supply in the midst of population growth is a crucial problem...
Budget 2018: Will Step-Up Financing Ease Homeownership for M40?

Housing-related measures in Budget 2018 were largely within expectations barring a few surprises. One of them was the proposed extension of step-up financing — first introduced by the 1Malaysia People’s Housing (PR1MA) scheme — to private sector developers. In essence, PR1MA’s step-up ...
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