PROPERTY developers eager to recoup their capital and offset losses are now slashing the price of unsold homes, as recent data showed a worsening of the property glut in Malaysia.
Radzi Tajuddin, chief executive officer of Hartabumi, a real estate portal for Bumiputera lots in the Klang Valley, said instead of waiting for the situation and economy to improve, developers are taking proactive steps to reduce the prices of unsold units.
Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one (1) week free access!
For any new projects, priority should be given to those first time house buyers who intend to stay in the unit they're buying. Next would be those who want to upgrade or change house. Those who buys it as a business with intention to resell it later with higher price should be the absolute last! Also, make it compulsory that the developer must have the necessary funds to complete at least 80% of the total number of units for the project in order for it to be approved.
Posted 5 years ago by Your Grandpa
Why did the previous gomen approve so many projects especially when the economy was slowing down? It is time to get rid of bumiputra allocations to eliminate artificial pricing which skew and distort the values of our properties. Market value should be determined by the market.
Posted 5 years ago by Roger 5201
Ants are a lot smarter than humans, it appears. Or maybe they succeed because they have no choice. Humans have the dubious advantage of choosing to look at reality down the wrong end of the telescope, believing that getting rich is everything.
Posted 5 years ago by Antares Maitreya
Editor's Pick
2 months ago
Mindef says will cooperate with MACC on procurement cartel case
2 months ago
公共服务薪酬研究中期报告 JPA:昨已呈首相
2 months ago
White House ‘concerned’ about reported death of US citizen in West Bank
2 months ago
Kenaikan tarif air baharu minimum, tidak beban pengguna, kata MB Terengganu
Comments
Posted 5 years ago by Your Grandpa
Posted 5 years ago by Roger 5201
Posted 5 years ago by Antares Maitreya