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

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

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

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