Archive for July 2022

KUALA LUMPUR: There are more than 35,000 unsold new properties worth a total of RM22.45bil across the country as of the first quarter of this year, the Dewan Rakyat hears. According to the Housing and Local Government Ministry, data by the National Property Information Centre (Napic) showed there were a total of 35,592 completed and…

KUALA LUMPUR: The reintroduction of the stamp duty exemption for first-time homeowners is expected to have a minimal impact on the overall property market but it should help to spur transactions within the primary residential market. PPC International managing director Datuk Siders Sittampalam said the incentive is timely, given the rising borrowing cost due to…

PETALING JAYA: The critical labour shortage, high agency fees, and a 30% hike in the price of construction materials have forced several industry players to close shop, says Master Builders Association Malaysia (MBAM). MBAM president Wee Hiang Chyn said the problems faced by the industry were compounded by the worsening Russia-Ukraine conflict which has led…

Kuching, July 2022 : SHIPPING executive Albert Tay, 56, was annoyed when he saw an advertisement on social media offering a new semi-detached house with a price tag of RM820,000. The house with a total land size of 4,356sq ft is located about 5km from Sibu town centre. “I think it is too expensive. My…

PETALING JAYA: The property sector is likely to face hard times for the remainder of this year due to waning demand, high cost of materials and an expected increase in interest rates. Rahim and Co International Property Consultants CEO Siva Shanker told FMT Business the sector’s performance for the first half of this year has…

SIBU: House prices in Sarawak are among the most expensive in the country as the State relies heavily on imported building materials from West Malaysia which must pass through Port Klang, says Deputy Minister of Public Health, Housing and Local Government Michael Tiang. He told reporters this today when asked to comment on a report…

PETALING JAYA: With the economy back on the recovery path, commercial real estate, which took a beating during the pandemic, is back on the radar for investors. Savills Malaysia Sdn Bhd group managing director Datuk Paul Khong said he expects commercial properties to make “a reasonable comeback” in terms of yields and returns for 2022…