Owning a leasehold property should not be a concern for first-time housebuyers if they intend to stay there. Lawyer Chris Tan says chances are high that these buyers will ‘upgrade’ by moving into a bigger house in the next 10 years. He said houseowners could just renew the lease by ... Read More

The state government should look into allowing special privileges for developers involved in affordable projects to pay preferential premium and levies to the state authorities. Raine & Horne Malaysia senior partner Michael Geh said this would further enhance the smooth delivery of affordable housing projects in the state. “There will ... Read More

Penang is looking for a partner to roll out its massive RM27 billion transport master plan that will integrate both land and sea networks, including an MRT system, to link both the island and mainland halves of the state. The state will call an open tender from August 15 to ... Read More

Recently a syndicate 'guaranteeing' applicants and home buyers of affordable housing by asking for monetary compensation of RM10,000 to RM30,000 has caught the attention of developers and the state government. Aspen Group has received multiple complaints from the public that they have received phone calls from a syndicate demanding a ... Read More

Preparations are in full swing for the Star Property Fair 2014 which will take place at Gurney Plaza and the adjoining G Hotel starting tomorrow until Sunday. An army of contractors were busy setting up booth structures, bringing in exhibits, and sprucing up the event venue in time for the ... Read More

THE Penang Development Corporation (PDC) is holding a Request For Proposal (RFP) for a joint development project on a 1.7ha plot at the Sandilands foreshore in Jalan C.Y. Choy. The project will comprise medium-cost apartments, low medium- cost flats and related commercial facilities. PDC was appointed by Chief Minister Incorporated ... Read More

RESIDENTS of Kg Chetty in Batu Ferringhi, Penang, have been given a flat each to make way for a housing project. The developer of the 30-acre village has agreed to allocate each of the 350 householders a low medium-cost (LMC) unit according to the state government’s “one-to-one” housing policy. State ... Read More

Aeon Seberang Prai City, the largest mall in Bandar Perda, Penang, will be renamed Perda City Mall (PCM) after undergoing asset enhancement works. Work has started on the mall and is expected to finish before Christmas this year. Its owner Northern Mall Sdn Bhd said in a press statement that ... Read More

Banks need to reduce interest rates for low-cost, low medium-cost and affordable housing units, says Penang Town, Country and Housing Committee chairman Jagdeep Singh Deo. “A special rate for this category of home buyers is important as it will assist them in attaining their first home,” he said. Jagdeep said ... Read More

The measures to cool the property market may have weeded out a large part of speculative activities but they have not succeeded in curbing rising prices, says Malaysian Institute of Estate Agents (MIEA) president Siva Shanker. “The number of transactions has come down but prices continue to rise steadily,” he ... Read More