Over a million residents here will be affected if the goods and services tax (GST) is imposed on management fees for apartments and condominiums, said Penang Chief Minister Lim Guan Eng. He said all management and maintenance fees for buildings with strata titles, including low- and low-medium cost flats, will ... Read More

Major construction and property players with projects in Penang are set to be major beneficiaries of the state government’s RM27bil transport masterplan. The Penang Transport Master Plan (PTMP) is set to improve accessibility and spur further gains in its vibrant property market, said AmResearch in a report yesterday, adding that ... Read More

Penang property developers will adopt a “wait-and-see” approach in rolling out new property projects next year in view of various factors, including rising power costs, fuel subsidy cuts and house buyers’ cautious stance. The Real Estate and Housing Developers Association (Rehda) has expressed concern over bureaucratic red tape involved in ... Read More

The Penang property scene, which has seen prices soaring to new levels in the last two years, will see new affordable properties with a gross development value (GDV) of RM4.7bil entering the market in prime locations over the next three years. Besides the pricing, which ranges between RM300,000 and RM650,000 ... Read More

by Charles Tan In Penang, the electronics sector is a very important sector for property market. The reason I say so is because more often than not a lot of these manufacturing companies would hire engineers as well as other functions to support operations and these are the potential buyers ... Read More

Penangites will have to pay more in assessment next year. State Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow said the Penang Municipal Council (MPPP) and Seberang Prai Municipal Council (MPSP) would impose an increase of between 0.5% and 4.45% based on the type of properties ... Read More

by Charles Tan Which is the most unaffordable property market in the world today? Hong Kong. Who said so? US-based Demographia based on their survey. According to them, Hong Kong’s median hoe price was more than $S4.02 million compared to the median income which was only HK$270,000. Few weeks ago, ... Read More

Prospective buyers of 1Malaysia People’s Housing (PR1MA) homes can expect guaranteed financing to buy them. The scheme will enable buyers, who were successful in the balloting, the option to get their own financing or choose from PR1MA panel bankers, said PR1MA Corp Malaysia chief financial officer Hasleen Isnin. Prime Minister ... Read More

The property market will not see a downturn in 2015, despite the slowdown over the past three quarters, said Malaysia Institute of Estate Agents (MIEA) president Siva Shanker. He also expects the property market to pick up in 2016 and 2017. Siva was giving a talk at the Annual Malaysian ... Read More

* Article by Richard Oon * While presenting the recent Budget 2014, Prime Minister Datuk Seri Najib Razak announced the introduction of the Goods and Services Tax (GST) and when enacted, GST will be effective from 1 April 2015 and standard rated supplies will be subject to GST at a ... Read More