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Property News

Rates hike over next 3-6 months unlikely

Rates hike over next 3-6 months unlikely

Bank Negara Malaysia is likely to pause rates again at its next meeting on Nov 12, says Senior Economist at AmResearch, Manokaran Mottain."With Bank Negara having frontloaded rate hikes in the earlier part of the year, we see greater flexibility ... Read More
SP Setia to launch four residential projects worth RM546mil

SP Setia to launch four residential projects worth RM546mil

GEORGE TOWN: SP Setia Bhd plans to launch four new residential projects with an estimated gross sales value RM546mil on the island beginning this December and next year. SP Setia property (North) general manager S. Rajoo told StarBiz that the ... Read More
Ministry wants ‘no down-payment rule’ to cover RM350,000 homes

Ministry wants ‘no down-payment rule’ to cover RM350,000 homes

KUALA LUMPUR: The Housing and Local Government Ministry will propose that the ceiling price of homes that do not require a down-payment for purchase be raised to RM350,000.Minister Datuk Chor Chee Heung is expected to table the proposal at next ... Read More
Housing levies under review Move to spur construction of more affordable homes, says CM

Housing levies under review Move to spur construction of more affordable homes, says CM

GEORGE TOWN: The state government is reviewing the various charges imposed on residential projects priced between RM300,000 and RM350,000 per unit on the island, and RM200,000 and RM250,000 on the mainland.Chief Minister Lim Guan Eng said that the move would ... Read More
Ministry: No property bubble

Ministry: No property bubble

SHAH ALAM: The Housing and Local Government Ministry does not foresee a property “bubble” in the country, where a rise in prices will be followed by a rapid reduction.Minister Datuk Chor Chee Heung said that so far this year, property ... Read More
'Household debt issue not addressed'

'Household debt issue not addressed'

LEADING think-tank Malaysian Institute of Economic Research (Mier) is disappointed that the 2011 Budget did not provide measures to address high household leverage. Executive director Dr Zakaria Abdul Rashid described it as a key disappointment in the Budget, besides the ... Read More
MIER concerned with rising household debt

MIER concerned with rising household debt

The Malaysian Institute of Economic Research (MIER) is concerned with the rising household debt level which stood at 77 per cent of Gross Domestic Product (GDP) last year.In Bank Negara Malaysia (BNM)'s 2009 annual report, household debt was reported to ... Read More
Tambun Indah gets nod to list

Tambun Indah gets nod to list

Property developer Tambun Indah Land Bhd has received the Securities Commission's (SC) approval to list on the Main Market of Bursa Malaysia Securities Bhd.In a statement today, the company said it has appointed MIMB Investment Bank Bhd adviser, managing underwriter, ... Read More
Ten firms shortlisted for Penang Turf Club project

Ten firms shortlisted for Penang Turf Club project

The turf club is the single largest prime land plot owner in George Town. Mah Sing Group Bhd (8583) group chief executive Tan Sri Leong Hoy Kum confirmed that the company has indicated its interest for the Penang Turf Club ... Read More
First home scheme to attract young buyers

First home scheme to attract young buyers

PETALING JAYA: To promote home ownership among Malaysians, the Government has proposed to introduce First Home Scheme whereby Cagamas Bhd will provide a guarantee on the 10% down-payment for houses priced below RM220,000.The scheme is for first-time house buyers with ... Read More