FREE MALAYSIA TODAY. 17TH MARCH: The Federal Court confirms that filing separate claims involving different matters does not contravene the Housing Development (Control and Licensing) Act, 1966. The Federal Court has ruled that an aggrieved house buyer can file two separate claims in respect of the same property with the home buyers’ tribunal to bring his […]
THE EDGE MARKETS. 15TH MARCH: Putrajaya ought to monitor the prices of affordable housing or rent as the lack of affordable housing supply in the private market could push the number of households into social housing, Khazanah Research Institute (KRI) has cautioned, noting more households are now eligible for government assistance. Based on KRI’s latest […]
PENANG PROPERTY TALK. 17TH MARCH: The Penang Local Government, Housing, Town and Country Planning Committee has initiated two guidelines – one for high-rises and the other, for landed properties – to regulate short-term stays in Penang. The Committee chairman Jagdeep Singh Deo said both guidelines have been approved by the state executive council on March 8. […]
EDGEPROP. 17TH MARCH: The contract to build 300 units of double-storey houses at the Eco Grandeur township was awarded by Paragon Pinnacle Sdn Bhd, a unit of Eco World Development Bhd. Inta Bina Group Bhd has secured a RM79.9 million contract to build houses near Bandar Puncak Alam in Ijok, Selangor. The contract to build 300 units of double-storey […]
THE MALAYSIAN RESERVE. 15TH MARCH: Construction group, Haily Group Bhd has bagged a RM32.66 million construction contract from Nice Frontier Sdn Bhd, a member of IOI Properties Group Bhd, to build residential units for the Bandar Putra township within Iskandar Malaysia. The contract, which is the third job clinched by the group this year, brings […]
NEW STRAITS TIMES. 16TH MARCH: Property stakeholders are encouraging the new unity government to restore the house ownership campaign (HOC), citing the lack of catalysts for the property market in the amended Budget 2023, which was tabled last month. Under the HOC scheme, first-time homebuyers benefit from full stamp duty exemptions for residential properties up […]
EDGEPROP. 16TH MARCH: In Malaysia, the affordable housing segment is partly funded by the free-market housing that is priced to cover the outstanding cost of developing the former. The Singapore housing has long been regarded as a role model of successful affordable housing ownership. Nearly 80% of Singaporeans live in public flats that are sold […]
FREE MALAYSIA TODAY. 15TH MARCH: State government urged to reconsider enforcing new STR rules. Property owners in Penang who provide short-term rental (STR) stays are facing a dilemma. A soon-to-be enforced cap on STR could lead to many of them defaulting on their housing loans and eventually losing their property. Banks could also take a hit […]
EDGEPROP. 15TH MARCH: Deputy Finance Minister II Steven Sim: Residential sub-sector led the overall property market activity, with 62.5% contribution in volume. The Malaysian property market is expected to grow this year despite the projection of a moderately lower economic growth due to the unpredictable external environment, said Deputy Finance Minister II Steven Sim (pictured). […]
EDGEPROP. 13TH MARCH: “For the 12 projects that were not approved, we received more than one EIA because some sent two to three reports (EIA) but all were rejected due to not meeting the specified conditions.” The Penang Department of Environment (DOE) received a total of 40 Environmental Impact Assessment (EIA) reports for 27 projects to be […]