The Penang government has expressed its appreciation to the federal government for introducing the rent-to-own (RTO) scheme for housing units during the Budget 2021 announcement. In welcoming the move, State Housing, Local Government and Town and Country Planning Committee chairman Jagdeep Singh Deo today said that in fact Penang had ... Read More

The government has just announced a month-long conditional movement control order (CMCO) in Kedah, Penang, Perak, Melaka, Johor and Terengganu from Monday due to the rising number of Covid-19 cases in the states. The CMCO will start on 9 Nov (Monday) and end on Dec 6. “It will be for all ... Read More

The 2021 budget is expected to give a big push to the housing market and enable more Malaysians to own their first home, according to a real estate group. International Real Estate Federation Malaysian Chapter immediate past president Michael Geh said the five-year extension of the stamp duty exemption, aimed ... Read More

The Malaysian Budget 2021 (Belanjawan 2021) is being tabled by finance minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz in parliament today. Below are some of the highlights pertaining to housing: 1. Full stamp duty exemption on Memorandum of Transfer (MOT) and loan agreement for the first home priced below RM500,000. This ... Read More

Penang police yesterday announced a list of 10 roadblocks to be mounted as part of the conditional movement control order (CMCO) to be enforced at the larger Bayan Baru-Bayan Lepas area from today until Nov 19. Southwest district police chief A Anbalagan said a 328-strong team of officers from the police, armed ... Read More

Ageson Bhd will launch Prins Bay, a mixed development project comprising a hotel, serviced apartments, and retail shops in Penang next year. The property and construction company is launching the project in Batu Ferringhi, and the estimated gross development value is RM178 million. Executive director Datuk Sri Chin Kok Foong ... Read More

While no one would know when the COVID-19 will be effectively contained, the pandemic is definitely further dampening the already sluggish property market in Penang since its outbreak in March. To hear some views from industry experts, an email interview was conducted with Ms. Christina Choong (MIEA Penang Branch Chairman) to discuss the impact of COVID-19 on the ... Read More

According to the latest announcement from the Ministry of Health, Mukim 12 of Penang's Southwest District will be placed under a conditional movement control order (CMCO) from November 6 to November 19. This will affect several townships within Mukim 12, namely Batu Maung, Bayan Baru, Bayan Lepas (including Free Industrial ... Read More

Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) has decided to maintain the Overnight Policy Rate (OPR) at 1.75 per cent as the global economy continues to recover, led by improvements in manufacturing and export activity. In a statement yesterday, the central bank said the OPR decision also came after ... Read More

The Penang government is now seeking public feedback on a replacement of the George Town World Heritage Site Special Area Plan, which is due for a review next year. State Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh Deo said the state was now in the midst of ... Read More