PETALING JAYA – Property consultancy Savills Malaysia expects housing prices to firm up in 2019, with real estate developers only able to increase supply by early 2020, following renewed confidence in the market from the new government’s promise of clean and fair governance. “However, there will be a period of…
PETALING JAYA – Kuala Lumpur City Hall (DBKL) has frozen all unapproved projects, including those built on hillslopes and public spaces, reported Malaysiakini. Kuala Lumpur mayor Tan Sri Mohd Amin Nordin Abdul Aziz told Lembah Pantai MP Fahmi Fadzil, Bukit Bintang MP Fong Kui Lun and Kepong MP Lim Lip…
Bank Negara Malaysia (BNM) has slammed the Real Estate and Housing Developers’ Association’s (REHDA) definition of affordable housing as inaccurate, saying homes priced at RM300,000 and above cannot be called “affordable”, reported The Sun Daily. “Houses in the price range of RM300,000 to RM500,000 are beyond what is affordable to…
KUALA LUMPUR — The National Property Information Centre (Napic) has launched an Unsold Property Enquiry System Malaysia (UPESM) to provide information to market players like developers, local authorities, buyers and other interested parties. Napic director Md Badrul Hisham Awang said on Thursday the system was developed last year and launched in…
DUBAI – Top property developer S P Setia Bhd won three gold awards at the FIABCI World Prix d’Excellence Awards 2018 held here on Tuesday. The awards are for the Affordable Housing Category for its Seri Kasturi Apartment project in Setia Alam; Master Plan Category for its Setia Eco Glades…
KUALA LUMPUR — The High Court has ruled in favour of WCT Holdings Bhd against AEON Co. (M) Bhd in a case involving the lease renewal for AEON Mall Bukit Tinggi. However, the chapter is far from over as AEON intends to appeal against the decision. Both parties were locked…
KAJANG — The Valuation and Property Services Department (JPPH) of the Ministry of Finance Malaysia said the residential overhang was at its highest point to date in 2017, amid a 67.2% increase in the number of unsold completed units. The department said the residential overhang grew 67.2% to 24,738 units,…
PUTRAJAYA — The developer has applied to Putrajaya to hire Chinese nationals for the construction of East Coast Rail Link project due to ‘language accessibility’, says Deputy Prime Minister Ahmad Zahid Hamidi. “They have applied to recruit Chinese workers as the equipment and machinery to be used are of China’s…
JOHOR BAHRU — Despite the challenging real estate market, Country Garden Malaysia has managed to achieve a decent take-up rate of more than 70% for its new property launches in Malaysia last year. Country Garden Malaysia regional president Jason Fu said the developer’s market-oriented strategy of launching new properties according…
KUALA LUMPUR — To ensure property agents are compensated fairly, real estate agencies in Malaysia should look into using the pay-out scheme of multi-level marketing (MLM) companies, according to the head of the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP). “Real estate agents earn their incomes from…
