SEMENYIH – The FundMyHome scheme allows institutions to contribute to society by assisting Malaysians to own a home, said Maybank and CIMB Group. The first-in-the-world homeownership scheme developed by EdgeProp Sdn Bhd, it allows homebuyers to pay only 20% of the price to own a home, while the balance 80%…
KUALA LUMPUR – Bank Negara will be setting up an RM1bil fund to finance the first house purchase for those with a monthly income not exceeding RM2,300. Finance Minister Lim Guan Eng said the fund would be provided from Jan 1 2019 to purchase affordable houses priced at up to…
PETALING JAYA – The government’s move to increase the Real Property Gains Tax (RPGT) rate might send the wrong signal to the market, which is already “very soft” at the moment, and discourage foreign investments in the country, according to CBRE|WTW managing director Foo Gee Jen. In Budget 2019, the…
PETALING JAYA – The government will allow the setting-up of property crowdfunding platforms which will serve as an alternative source of financing for first time homebuyers, said Finance Minister Lim Guan Eng today. The first exchange is expected to go live in the first quarter of 2019, after all necessary…
Main Economic Points from the Budget 2019 Federal Government Debt Federal Government’s debt and liabilities up to end June 2018 stood at RM1.065 trillion, which is about RM350bil higher than the amount officially disclosed by the previous government. Breakdown constitutes RM725.2bil in direct federal government debt, RM155.8 bil in committed…
KUALA LUMPUR – Pakatan Harapan government has no power to stop the sale of property under the Forest City project in Johor to foreign buyers, says Deputy Housing and Local Government Minister Datuk Raja Kamarul Bahrin Shah. “This is because the multi-billion project comes under the Johor government and is…
KUALA LUMPUR – The Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP), which is currently giving a one-year window period for any person with property management experience to be registered as a property manager, expects the number of registered property managers to increase from the current 3,000 to…
KUALA LUMPUR – Over half or 56.9% of respondents in an online survey conducted by The Edge ahead of the unveiling of Budget 2019 on Friday are of the opinion that the government should not raise tax revenue to pare down national debts. Altogether 2,643 respondents took part in the…
KUALA LUMPUR – Property prices will definitely have to adjust in the near term to cater to the softening demand, said Sime Darby Property Bhd’s chairman Tan Sri Zeti Akhtar Aziz. She said the current soft property market situation presents a window of opportunity for developers to work on improving…
KUALA LUMPUR – IOI Properties Group Bhd said it will be launching projects worth a total of RM3 billion in gross development value (GDV) during its current financial year ending June 30, 2019 (FY19) — higher than FY18’s RM2.8 billion. The group’s chief executive officer Lee Yeow Seng told reporters…
