Gurney Drive Set to be an Exclusive Area for the Rich

Penang’s Gerakan Publicity Bureau Chief Ooi Zhi Yi alleged that with the state authorities not fully disclosing its plans for the reclaimed land off Gurney Drive, there are fears that the area will become an exclusive community for the rich, reported The Star. “According to a property website, a high-end development will be constructed on … Read more

More Abandoned Projects due to China’s Capital Control

China’s aggressive crackdown on capital flight could lead to a surge in abandoned projects in Penang, Johor and Kuala Lumpur, reported Free Malaysia Today citing veteran economist Hoo Ke Ping. “Chinese nationals who have purchased homes but haven’t finished paying for them may not be able to do so,” said Hoo. This comes as China’s … Read more

Property Glut on the Rise in Pahang

The vacant office buildings and the rows of unoccupied shoplots in Pahang underscore that many business owners there are unwilling to pay high rent amid lacklustre market conditions, reported the New Straits Times. According to the Real Estate and Housing Developers Association (REHDA), many landlords are unable to lease their properties to budget-conscious tenants, with … Read more

Be A Responsible Property Investor

New developments and the rising concern of property oversupply in the market is caused by many reasons, one of them being irresponsible property investors. It is becoming more common for ‘gurus’ to come out and share how to make ‘instant’ money via a vehicle termed loan compression, but little do buyers know that they are … Read more

Expensive Properties Lead To A Homeless Generation

Unless the government raises the supply of low-cost houses significantly, a large number of Malaysians would be unable to get a roof above their heads, reported Free Malaysia Today. “The threat of a homeless generation, where up to 80 percent of the population cannot afford to buy their own properties, is beginning to take root,” … Read more

Finance Ministry: Secondary Market A Good Option For First-Time Homebuyers

As an alternative, first-time home-buyers should look into the secondary market with properties there more affordable, says the Finance Ministry. Director-General of Valuation and Property Services Dr Rahah Ismail said the primary market pricing is usually inflated, due to freebies and rebates, and there is a higher chance for loan eligibility in the secondary market. … Read more

New Transportation Projects Lead to Increase of Office Relocation

More firms are expected to move into Kuala Lumpur’s central business district (CBD), as connectivity is set to be significantly upgraded, while rental prices in the city’s outskirts become more similar to that in downtown, reported The Edge Property. “Companies considering relocation or setting up a new office may view the CBD as a good … Read more

Foreign Direct Investments Benefit Malaysia’s Economy

JOHOR BAHRU — Foreign direct investments (FDIs) into the country, including Johor, will not only have ripple effects in terms of a spillover of economic activities but also assist in the socio-economic development of the people in the long-run. While there are many “wild allegations” saying that bringing in FDIs could jeopardise national sovereignty and … Read more