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Property News

Dr Teng: We’ll address issue of affordable housing

Dr Teng: We’ll address issue of affordable housing

GEORGE TOWN: Penang Gerakan plans to address the issue of affordable housing in Penang since the present prices are beyond the reach of many local residents.State chairman Datuk Dr Teng Hock Nan said yesterday most of the property prices in Penang were now beyond the means of many middle-income wage ... Read More
More restrictions to ease property bubble?

More restrictions to ease property bubble?

THE rising prices of houses is still one of the hot topics among average Malaysians as the threat of higher inflation is growing by the day.The fact that Bank Negara had early this month imposed a lower loan-to-value ratio (LVR) for those taking up their third and subsequent mortgage loan ... Read More
Gurney Plaza extension bought for RM223m

Gurney Plaza extension bought for RM223m

AmTrustee Bhd, a trustee of CapitaMalls Malaysia Trust (CMMT), has entered into a conditional sale and purchase agreement on behalf of it, to acquire Penang's Gurney Plaza Extension for RM223.3 million.CMMT is managed by CapitaMalls Malaysia REIT Management Sdn Bhd (CMRM).CMRM chief executive officer Sharon Lim said the purchase is ... Read More
Malaysia set to keep rates unchanged

Malaysia set to keep rates unchanged

Malaysia’s central bank will probably keep interest rates unchanged for a second consecutive meeting to support its economy as global growth weakens and inflation eases.Bank Negara Malaysia will leave its benchmark overnight policy rate at 2.75 per cent tomorrow, according to all 16 economists surveyed by Bloomberg News. The central ... Read More
Creative Furnishing set for regional tie-ups

Creative Furnishing set for regional tie-ups

PENANG-based furniture exporter Creative Furnishing Sdn Bhd is set to sign several joint-venture arrangements with its suppliers in the region. Its managing director Stanley T.C Chew said the tie-ups are expected to be firmed up by early 2011 and that the move was to ensure that better quality control is ... Read More
Mah Sing: Local property market sustainable

Mah Sing: Local property market sustainable

KUALA LUMPUR: Mah Sing Group Bhd is confident the local property market is sustainable as the current buying activities are backed by economic fundamentals and genuine purchasers.“Despite Bank Negara’s measure to cap the loan-to-value ratio at 70% for third and subsequent house purchase, the prevailing low interest rate, healthy employment ... Read More
New homes soon for Buah Pala folk

New homes soon for Buah Pala folk

FORMER Kampung Buah Pala residents can expect to move into their new homes by early next year, ahead of schedule.Deputy Chief Minister II Dr P. Ramasamy said that construction of the houses would be completed in January and the families could expect to move in after the occupancy certificate is ... Read More
Buyers to pay more after second house

Buyers to pay more after second house

KUALA LUMPUR: Malaysians have to fork out more money from today to buy more than two houses after Bank Negara slammed the brakes on property speculation.The central bank announced with immediate effect the implementation of a maximum loan-to-value (LTV) ratio of 70% for people buying their third or more house, ... Read More
Support for Bank Negara’s housing LVR cap move

Support for Bank Negara’s housing LVR cap move

PETALING JAYA: Bank Negara’s imposition of a maximum loan-to-value ratio (LVR) of 70% for a third and subsequent housing financing facility taken by a borrower is seen as a timely pre-emptive measure to avert unhealthy speculative activities and a potential property bubble, industry players concurred.With the latest measure that takes ... Read More
Malaysia tightens mortgage rules

Malaysia tightens mortgage rules

Malaysia’s central bank placed a limit on the loan-to-value ratio for people taking out third mortgages to buy homes in a bid to moderate “excessive” investment and speculation in urban areas.A maximum lending limit of 70 per cent will take immediate effect, Bank Negara Malaysia, the country’s central bank, said ... Read More