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Supply and demand is most significant cause of rising property prices

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

Pre-Budget 2014 – Tackling the property bubble conundrum

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

PDC, PE Land ink pact on premium retail outlet for Penang

The Penang Development Corp (PDC) has signed a purchase and development agreement for the construction of a premium retail outlet in Bandar Cassia, Batu Kawan. The agreement, signed between PDC and developer PE Land Sdn Bhd, will see the nation’s second premium outlet after the Johor Premium Outlet. Commercial real estate services ... Read More

Analysts expect RPGT to increase to 30% in Budget 2014 and pre-GST rush next year

The local property sector may only see a real property gains tax (RPGT) increase in Budget 2014, according to a report by Kenanga Research. It said it was expecting the tax rate to increase to 30% from 15% for properties sold within two years and 15% from 10% for properties ... Read More

More demand for secondary property

Some 70% of residential property transacted in the country today are in the secondary market, while the remaining 30% are newly launched projects. Raine & Horne Malaysia (Penang) director Michael Geh said more people were going after secondary property because of the pricing which ranged between RM72,000 and RM350,000. “This ... Read More

Lim signs for Tg Bungah-Teluk Bahang, Tun Dr Lim Chong Eu Ex’way-Air Itam, Gurney Drive roads

Three expressways to ease traffic flow in the state will be completed before the 6.5km undersea tunnel is ready. This was revealed by Chief Minister Lim Guan Eng after the signing of a preliminary agreement for the construction of a few major traffic-related projects yesterday. Under the state’s comprehensive package ... Read More

Penang Govt to go on with four mega projects

Despite facing severe criticisms over four mega projects totalling RM6.3bil, the Penang Government is pushing forward with the signing of an agreement. Chief Minister Lim Guan Eng said that the agreement would be signed tomorrow with the related companies here. It is learnt that the Environmental Impact Assessment would be ... Read More

Taman Nakhoda

Taman Nakhoda, strategically located within the established township of Teluk Air Tawar, Butterworth. It is only 5km away from Seberang Perai Coastal Road and approximately 7km to town center. This residential development comprises 33 units of 3-storey terrace, 10 units of 2-storey semi-detached and 5 units of 2-storey bungalow houses ... Read More

Bayan Baru and Bayan Lepas earmarked for BPO development

A TOTAL of 1.7 million sq ft of office space is expected to be built and completed as the new business process outsourcing (BPO) hub in Penang within the next three to five years. Penang Chief Minister Lim Guan Eng said the state government had set aside about 6.88ha of ... Read More

The Signature

The Signature, a 27-storey residential development by Excel Focus Properties in Perai, Penang. This development is strategically located along Jalan Baru within mere minutes drive from Penang bridge. It comprises 148 condominium units with indicative price from RM362,000 onwards. Property Project : The Signature Location : Jalan Baru, Perai, Penang Property Type : ... Read More