News List

Worth RM22.5 billion in unsold houses in the country - Zuraida

KUALA LUMPUR, Oct 25 (Bernama) – The Housing and Local Government Ministry recorded a property overhang of worth RM22.5 billion in unsold houses nationwide, with 73 per cent of them comprising affordable houses priced at RM250,000 and above, said its minister Zuraida Kamaruddin.

Is Penang's Property Market Finally Cooling?

By Kenny Teng Khoon Hock


GEORGE TOWN  (Bernama) -- The property market in Penang is known to be among the most expensive in the country, with prices having soared over the years despite various cooling measures implemented by the authorities.

Recently, there have been signs of property prices stabilising and the state has even reported property overhang.

Since 2014, the Penang government has stepped up the development of affordable housing projects and has also imposed various measures in its attempts to keep property prices under control. 

Among the locations in Penang considered as prime are Gurney Drive, Tanjong Tokong and Batu Ferringhi, where properties are beyond the reach of the local people as most of them are priced at above RM800 per square foot.

Factors that have contributed to the rise of Penang property prices include speculation, shortage of land on the island, increase in the cost of building materials and an influx of foreign buyers which is partly due to the weak ringgit. 

N. Sembilan gov't sets RM2 mln minimum property purchase price for foreigners

SEREMBAN, Oct 10 (Bernama) --  The Negeri Sembilan state government has made some changes to policy on minimum property purchase price for foreigners, setting it at RM2 million effective today.

Most housing units launched in H1 cost RM500,000 and below - Rehda

Top three suggestions from the respondents to encourage provision of affordable housing were reduction of development charges, lower land conversion premium and exemption of capital contribution.

Five housing entities to be placed under ministry - Zuraida

KUALA LUMPUR, Oct 8 (Bernama) -- The Housing and Local Government Ministry has finalised five housing entities to be placed under the ministry to oversee and coordinate all affordable housing development in the country.

Proposal for a special housing fund to assist people

GEORGE TOWN, Oct 2 (Bernama) -- The Penang State Government proposes that the Ministry of Housing and Local Government set up a special housing fund through tax collections in an effort to help low- and middle-income earners own houses.

UEM Sunrise to assess impact of SST waiver on property prices

KUALA LUMPUR, Oct 2 (Bernama) -- UEM Sunrise Berhad (UEM Sunrise), one of the country’s leading property developer, is currently assessing the impact of the sales and services tax’s (SST) exemption on building materials and services in order to lessen or maintain property prices. 

Ministry to introduce comprehensive property database

KUALA LUMPUR, Oct 2 (Bernama) – The Housing and Local Government Ministry (KPKT) is currently working on a comprehensive database to help first-time house buyers own a property.

JPPH does not control property prices in Malaysia

PUTRAJAYA,  Oct 1 (Bernama) --  The Valuation and Property Services Department (JPPH) does not control  the price of property, including residential buildings, says its director-general Nordin Daharom.

PropertyGuru: Malaysians remain positive on real estate sector

The latest PropertyGuru Consumer Sentiment Survey has revealed that consumers expressed a 42 per cent satisfaction rating for the local property sector post 14th General Elections in May.