PETALING JAYA: Demand for landed residential units is still promising despite the current property glut, said an official from a local real estate services provider. CBRE|WTW managing director Foo Gee Jen said that in spite of confidence issues among property buyers, there was still good demand for “the right products,” especially for landed units. “Despite … Read more
PARIT BUNTAR, May 18 (Bernama) — The state government will amend its housing policy to set the price of affordable houses at not more than RM200,000, says Perak Women Development, Family, Community Welfare, Housing and Local Government Committee chairman Datuk Rusnah Kassim. She said at the same time, the amendment if passed, would also compel … Read more
Ideal Property Development plans to unveil RM2.72 billion worth of condominium developments in Penang Island this year. These include the RM378 million Summerskye Residences in Bayan Lepas that was launched January, said Datuk Alex Ooi, Executive Chairman of Ideal Property. For the upcoming projects, they consist 3,648 units that will be released from May to … Read more
According to the Petaling Jaya Mayor Mohd Azizi Mohd Zain, a partial stop-work order will be issued for the on-going building at Persiaran Barat, which collapsed on Sunday. The fourth-floor of the building collapsed suddenly, causing six foreign workers to trap under the wreckage. “The stop-work order will be issued by the council will only be … Read more
JINAN (China): Malaysian tycoon Tan Sri Lim Gait Tong has started construction work on a planned 15bil yuan (RM9.25bil) integrated property project in Qihe, a north-west satellite town of Jinan, the capital city of Shandong province. The first phase of this cultural and touristic project, which has been named Asean International Eco-City, was launched in … Read more
Gross floor area exemptions may be given for facilities like parking, showers and lockers Developers will be given incentives to provide facilities such as bicycle parking, showers and locker rooms in their new buildings, as part of a new government plan to encourage people to cycle. They may not have to pay for the floor … Read more
According to the State Public Works and Utilities Executive Councillor Lim Hock Seng, Penang’s upcoming undersea tunnel and three paired roads are expected to cost a total of RM6.3 billion only. He was refuting the allegation made by Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan that the overall cost of the … Read more
Australian banks have introduced more stringent loan application rules for foreign property buyers, including the country’s four largest lenders – NAB, ANZ, Westpac and Commonwealth Bank, reported The Straits Times. Among the tougher rules implemented in recent weeks include reducing the loan-to-value ratio from 80 percent to 70 percent for borrowers who rely on overseas … Read more
Data from property consultancy JLL revealed that a higher number of newly built and uncompleted houses have been placed on the auction block so far this year, amidst a sluggish rental market and a supply glut stemming from the market heydays in 2011 to 2013, reported The Straits Times. To date, 13 units of completed … Read more
Singapore has emerged as the second biggest foreign investor in Vietnam after pumping in US$730 million worth of investments during the first four months of 2016, according to government statistics, reportedVietNamNet. Between January and March this year, the city-state invested in 50 new projects and poured more capital into 23 existing projects in the country, … Read more