All posts in "Local"
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FELDA to Provide 20,000 Affordable Homes

By Kim Wong / a few months ago

More affordable homes are heading towards buyers’way. The Federal Land Development Authority (FELDA) will have the back to the roots or ‘balik asal’ philosophy as the thrust of its new affordable housing policy, revealed its chairman Tan Sri Shahrir Abdul Samad. Notably, the ‘balik asal” concept was described by Shahrir as returning to FELDA’s glory […]

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Buyers Want to Cancel Purchases in Forest City

By Kim Wong / a few months ago

China-based Country Garden, the developer of the US$100 billion (RM443.95 billion) Forest City project in Johor, revealed that fewer than 60 buyers want to pull out their home purchases in the mega development, reported Free Malaysia Today. Although they have already made significant down payments, the buyers had requested to cancel their purchases, after China […]

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Malaysia Not Heading Into Property Bubble In Next Five Years

By Kim Wong / a few months ago

Malaysia is not expected to see a property bubble in the next five years, said iProperty General Manager Data Services, P. Premendran. He said Malaysia has prepped fallback measures from the 1997-1998 economic turmoil and from the US sub-prime mortgage crisis in 2008. “Malaysia would not be heading into a property bubble as the next […]

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Millennials Can’t Afford to Buy Houses

By Kim Wong / a few months ago

In Malaysia, only 35 percent of millennials were able to buy their own residential property. Of this, 29 percent were assisted by their parents, according to a survey by HSBC entitled “Beyond the Bricks”. On the other hand, most can’t afford to purchase one. While 94 percent of millennials without any homes have plans to […]

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Gurney Drive Set to be an Exclusive Area for the Rich

By Jax Lee / a few months ago

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 […]

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More Abandoned Projects due to China’s Capital Control

By Jax Lee / a few months ago

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 […]

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Property Glut on the Rise in Pahang

By Jax Lee / a few months ago

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 […]

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

By Jax Lee / a few months ago

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. […]

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Small Developers To Focus On Affordable Homes In Klang Valley

By Kim Wong / a few months ago

While big property players are focusing on constructing townships outside Klang Valley, smaller developers are building low-cost homes in more mature locations in Kuala Lumpur and Selangor, reported the New Straits Times. According to NCT Group Founder and Managing Director Datuk Seri Yap Ngan Choy, it’s safer to invest in affordable housing within Klang Valley, […]

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Limit PR1MA’s Special End-Financing Scheme to First-Time Buyers, Says HBA

By Kim Wong / a few months ago

The Special PR1MA End Financing Scheme (SPEF) and subsequent sale of 1Malaysia People’s Housing Programme (PR1MA) homes should be limited to only first-time house buyers, said the National House Buyers Association (HBA). HBA secretary-general Chang Kim Loong applauded the SPEF, which will assist the lower income group to obtain financing to buy their PR1MA homes […]

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