Property News Malaysia: If you refuse to sell but all other owners want to sell, then how? For Budget 2024, government will lower the threshold
People say property is becoming expensive. People say money is becoming smaller. When we put these two into the same equation and we want to balance it, then it’s either property needs to adjust itself or money has to adjust itself. Unfortunately, salary is mostly fixed. So property has to adjust itself.
This was announced earlier but I think many may have missed the news because I do not read that many articles about firs time home buyers being super excited with it. Yes, this is definitely good news for many potential homebuyers. Not sure how many first time homebuyers were waiting for this extra savings when they buy their very first property. Please note that full exemption is only for properties priced RM500,000 and below only. This is valid until end of 2025.
People’s Housing Projects (PPR) is built to provide homes to Malaysians who could not afford their own home as yet. Thus, all these PPR homes must be for the benefit of poor Malaysians and not to enrich anyone who managed to get a unit and is then sub-letting the unit out to foreigners and gaining profits from it while many other needy Malaysians are having to wait for a unit for years.
“Charles, we have too many affordable apartments being built today. This will soon collapse the market.” I still remember this statement from a friend (not a good friend, not a close friend, just a friend) many years ago. Well it was before Covid’s arrival. It was at a time when every developer were telling the world that their affordable project is the best affordable one. Somehow, it scared my friend who thought that property price will collapse when there are too many affordable apartments being built.
Property Affordability will always be key. It does not change.
Microflats. When the focus is on affordability
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Property market expected to rebound, supported by demand for affordable housing.
Construction material cost pushes up property price?
MyDeposit may be back to benefit the first time homebuyer (who qualifies)