Archive for January 2019
Government to regulate low-cost property prices & rental.
Rent and prices for low-cost houses will soon be regulated once Putrajaya introduces the Rent Control Bill to clamp down on profiteering. Putrajaya said rent control was crucial towards making homes accessible to bottom and middle-income earners, particularly in crowded urban centres where property prices have quadrupled in the last decade. The Bill was among…
Read MoreLaw against racist landlords coming soon.
KUALA LUMPUR: Putrajaya is drafting a new law called the Residential Tenancy Act, which among others will address racial discrimination in the property market, following incidents of landlords refusing to accept tenants due to their ethnicity. Housing and Local Government Minister Zuraida Kamaruddin said the new law will follow a similar law in Scotland. “This…
Read MoreRumawip to be rebranded as Residensi Wilayah
THE Rumawip (Federal Territories Affordable Housing Project) project will be rebranded as the Residensi Wilayah affordable housing project, said Federal Territories (FT) Minister Khalid Abdul Samad. “Its concept remains the same – that of an affordable home for first-time house buyers. It is not the same as PPR or low-cost flats,” he said. “What is…
Read MoreHome Ownership Campaign (HoC) to help lift property market
KUALA LUMPUR: The Home Ownership Campaign (HoC) from Jan 1 to June 30, 2019 will help lift activities in the property market but may not parallel the achievement of the first campaign, said a property consultancy. “The scenario then and today is very different,” CBRE|WTW managing director Foo Gee Jen told StarBiz. Foo launched the company’s…
Read MoreLow financial literacy holding back home ownership
SUBANG JAYA (Jan 23): One often overlooked issue hindering homeownership is the lack of financial literacy among Malaysians. “Financial literacy remains low and people somehow don’t fully understand what it takes to own a property,” RHB Bank head of group mortgages and ASNB business Anuar Amin said at a roundtable discussion today organised by the…
Read MoreMalaysian Property prices likely to continue downtrend
Property prices in the country are likely to continue their downtrend for at least the first half of the year (1H19), despite improving consumer sentiment and proactive government policies announced in the Budget 2019, online property company PropertyGuru said. It said in a statement that this is validated by the company’s Market Index, which shows…
Read MoreProperty expert cautions government against taxing long-time owners who sell their homes.
PETALING JAYA: A senior chartered property surveyor has urged the government to exempt senior citizens from the real property gains tax (RPGT), saying it is not fair to burden them with the tax when they decide to sell their long-held properties. Ernest Cheong, who has over 40 years of experience in the property market, said…
Read MoreDreaming of Easy Money ?
Good times bring great tidings. This was the case years ago when the property market was booming and prices of properties continued to chart steady growth. In today’s market scenario though things are hanging in the balance with many issues having to be rectified before they get better. To quote John Stuart Mill – one…
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