KOMTAR — arguably Penang’s best known landmark — will be revitalised to become one of the top tourism draws in the state. Chief Minister Lim Guan Eng said the state wanted to bring back the past glory of the iconic tower. “At one time, it was the main shopping centre ... Read More

PROPERTY consultants and analysts described the proposed new real property gains tax (RPGT) regime and the removal of the developers interest bearing scheme (DIBS) as both timely and much needed in view of the speculation in the property market of late. All of them agree that the overall budget for the property sector is good and are ... Read More

(Prime Minister's speech on property sector) Goods and Services Tax (GST) Sale, purchase and rental of residential properties as well as selected financial services are exempted from GST. Increasing Home Ownership The recent sharp increase in the prices of houses has affected the ability of the rakyat to purchase houses ... Read More

It is not fair to compare property prices in Penang with those in Singapore and Hong Kong, says CA Lim & Co’s principal Lim Chien Aun. “No doubt among the cheapest in the region, Penang, however, is not a financial centre like Singapore and Hong Kong, where there is substantial ... Read More

The Malaysian Institute of Economic Research’s Q3 residential property survey saw its residential property index (RPI) fall to the lowest level in four quarters but still staying above the 100-point demarcation level at 118 points. It said this suggested confidence in property remained, but was trending downwards and implied cautiousness ... Read More

There is no reason to believe that Malaysia has seen the formation of an asset bubble that is about to burst, as the country has addressed many of the issues and risks related to it, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz (pic) has said in a Bernama ... Read More

The Federal Government should leave real property gains tax (RPGT) alone in the 2014 Budget. New Bob Group director Dr Lee Ville said that if the RPGT is increased, then it will dampen the property market, which has already started to cool. Lee is also president of ERA Malaysia, which ... Read More

The second Penang bridge is now 99% complete and the launching date will be determined by the Federal Government some time next month. Jambatan Kedua Sdn Bhd (JKSB) managing director Datuk (Ir) Dr Ismail Mohamed Taib said they hoped to wrap things up by Nov 8. The Batu Maung interchange ... Read More

Real Estate and Housing Developer’s Association (Rehda) national treasurer DatukN K Tong recently said that the escalating prices of properties, was significantly caused by the supply and demand factor. “As land prices continue to rise, there is also the issue of not producing houses fast enough to cater to the increasing ... Read More

NOTHING is certain in life except death and taxes. With the current economic climate and ever-escalating property rates these days, it is increasingly difficult for the average young professional and budding families to afford their own property, much less those in the low-income group. Even well-to-do families are looking at ... Read More