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Property News

Affordable homes a state priority

Affordable homes a state priority

The Penang Government will provide incentives to encourage developers to build more low and medium-cost (LMC) houses as well as mid-range units on the island.State Town and Country Planning and Housing Committee chairman Wong Hon Wai said the government would ensure there was sufficient supply of mid-price range housing to ... Read More
Processing stage and registration stage

Processing stage and registration stage

1. Pre-Registration Stage: Contract of Sale There are 2 types of sale and purchase of property, namely: a) Purchase from property developers (Primary Sale) The sale and purchase of property (housing accommodation) which is under construction from a property developer is governed by the Housing Development (Control and Licensing) Act, ... Read More
Buying that first home

Buying that first home

While many young potential house buyers welcome the new My First Home scheme, those living in big cities with soaring property prices say owning a house remains an elusive dream. IF there is one regret that widow Noraini Abdullah has in her life, it is that at 60, she is ... Read More
BLR discount for young house buyers under scheme

BLR discount for young house buyers under scheme

KUALA LUMPUR: Young Malay­sians eligible for housing loans under the My First Home Scheme will be charged an interest rate or profit rate of base lending rate (BLR) minus 1.8% for the duration of their loan. A person has to be no more than 35 years of age when applying ... Read More
Build-then-sell concept gives buyers more protection

Build-then-sell concept gives buyers more protection

Gevanantham Marimuthu (Geva) has been waiting for over a decade to move into his Lembah Beringin home he bought in the late 1990s, 50km from Kuala Lumpur. Today, Geva, alongside some 2,000 others in that area, have not moved into their dream homes because the project has been abandoned. Geva ... Read More
New residential property prices to go up 13%

New residential property prices to go up 13%

KUALA LUMPUR: The average prices of newly developed residential property this year is expected to grow by 13% against last year in line with the increase in raw materials cost, according to a survey by Real Estate & Housing Developers’ Association Malaysia (Rehda).The survey showed that the average terrace house ... Read More
Malaysia likely to leave rates unchanged

Malaysia likely to leave rates unchanged

BANK Negara Malaysia is widely expected to leave borrowing costs unchanged but economists said it may carry out other measures to let some hot air out of the financial system and deal with rising prices of consumer goods and services. The monetary policy committee will make a decision on the ... Read More
PM: Housing prices still manageable

PM: Housing prices still manageable

KUALA LUMPUR: The rise in residential property prices is still manageable and measures such as the My First Home Scheme will allow those in the lower-income brackets to own homes.Prime Minister Datuk Seri Najib Tun Razak said at a press briefing yesterday, following the annual meeting with Bank Negara governor ... Read More
Scheme launched for young adults to get 100% financing for new home

Scheme launched for young adults to get 100% financing for new home

KUALA LUMPUR: Young working adults can now buy themselves a new home without having to pay a sen in down payment.Those earning less than RM3,000 a month can obtain up to 100% financing to buy their first home under a new scheme launched yesterday.The My First Home Scheme, launched by ... Read More
Howling mongrel in high-rise apartment irks residents

Howling mongrel in high-rise apartment irks residents

The Society for the Prevention of Cruelty to Animals (SPCA) has urged residents of high-rise units in Penang not to leave their pets unattended in their premises.Penang SPCA administrator Lily Leng said pets should also not be kept in balconies as the animals are not fully protected from the rain ... Read More