A developer has offered four compensation options to residents of 823 squatter units in Sungai Nibong Kecil and Sungai Nibong Tengah, Penang, who have to make way for a mixed development project. The options given by Hunza Properties Berhad are cash, cluster houses in Bertam and low-cost flats in Bertam ... Read More

First-time buyers of affordable houses not left out too Various house ownership programmes for all levels of income have been allocated for in Budget 2016. Prime Minister Datuk Seri Najib Tun Razak said PR1MA would build 175,000 houses, which will be sold at 20% be­low market prices, with an allocation ... Read More

The median home value in Malaysia has hit the RM300,000 mark in the first half of 2015 (1H15), with Selangor, Penang, Sabah and Sarawak continuing to exceed the average price since 2004. Preliminary data for the second quarter of 2015 showed the Malaysian Housing Price Index registering 220.2 points, which ... Read More

The federal government’s 1Malaysia People’s Housing Scheme (PR1MA) in Penang may see projects by other developers being taken over, Penang Federal Action Council chairman Datuk Seri Zainal Abidin Osman said yesterday. He said PR1MA was looking at projects that had run out of funds, and even completed projects, so as ... Read More

The RM350mil Subterranean Penang International Convention and Exhibition Centre (SPICE) project in Bayan Baru is 80% done and should be completed by the end of next year. Among the components already up are the SPICE Aquatic Club (RM16mil), SPICE Canopy comprising F&B retail outlets (RM28mil) and the upgrading of the ... Read More

By National House Buyers Association In our article last month, we highlighted the report by Khazanah Research Institute on ‘Making Housing Affordable’, which showed that the Malaysian all-house price index grew steadily at a compounded annual growth rate (CAGR) of 3.1% from 2000 to 2009, and suddenly accelerated at a ... Read More

From its beginnings in plywood production and manufacturing, Penang developer Asia Green Group has become a diversified business entity with a fast-growing property development business. The group will launch its upcoming QuayWest Residence, a mixed-use development project with a gross development value of RM600 million, early next year. Located just ... Read More

In an effort to improve the accessibility while stimulating the affordable housing development in Penang, the state government has introduced several new measures to ease the current market situation. Increase in household income ceiling With the hope that more applicants will be able to obtain bank loans, the household income ... Read More

With three major shopping malls being planned for Seberang Prai, the mainland will soon rival the island as a shopping paradise. The three malls are The Design Village (net lettable area (NLA) 400,000 sq ft), Ikea and Ikano Power Centre, and unnamed mall project by Belleview Goup (1.5 million sq ... Read More

Mah Sing Group Bhd is proposing to the Government to bring back the developer interest bearing scheme (DIBS) for first-time home buyers. The developer is also suggesting a review of the real property gains tax (RPGT) as among several measures to boost the sector. “The property industry has a larger ... Read More