Malaysia needs to prepare for ageing population in 2050
Malaysia needs to prepare now to address the ageing society problem which is expected to account for 15% of the population by 2035, failing which, it could bring about massive impact to the country’s economic health. Malaysians aged above 60 years and above now accounted for 8% of the population. The entire structure of economy and ideology needs to be changed as there will be less workers, less tax and subsequently lower capability for expenditure in future. The speed at which the nation’s population was aging was one of the fastest in the world, and Malaysia currently does not have a comprehensive policy to address the ageing population issue. (The Sun Daily)
Survey: Malaysia has lowest cost of living in SEA
A survey which shows that Malaysia has the lowest cost of living in Southeast Asia indicates the government’s success in tackling the issue, said Prime Minister Datuk Seri Najib Razak. According to the Economist Intelligence Unit (EIU) Worldwide Cost of Living 2017 report, Kuala Lumpur ranked 96th out of 133 cities globally, while Singapore was ranked the world’s most expensive city to live in for the fourth consecutive year. Measures such as price controls, cutting out middlemen, BR1M, and affordable housing programmes were cited as efforts to tackle the issue of living costs and lessen Malaysians’ financial burden. (Malay Mail Online)
PKNS township launched in Kuala Selangor ecotourism belt
The Selangor State Development Corporation (PKNS) has launched Bayu Malawati, a new housing development in the heart of Kuala Selangor‘s ecotourism belt. The housing project consists of 104 units of two-storey terrace houses and is the third project to be completed by PKNS this year. It is currently 87% completed and expected to be ready in October. The project, built on 3.42 ha, is located in the strategic ecotourism area of the town, offering a green and serene environment with various amenities nearby. (Malay Mail Online)
UEM Sunrise to provide one-stop real estate management services
Property developer UEM Sunrise Bhd’s wholly-owned subsidiary SCM Property Services Sdn Bhd has signed an agreement with real estate agencies to provide one-stop real estate management services. The eight real estate agencies are Kiara Realty, Reapfield Properties Sdn Bhd, Metro Homes Sdn Bhd, Worldmart Properties, Esprit Estate Agent Sdn Bhd, CBD Properties Sdn Bhd, Cityspace Properties and Asian Land Realty Sdn Bhd. SCM Property will act a a one-stop centre for residents and tenants to obtain total home solutions with services covering tenancy management, repair and maintenance, billing and payment of bills, renovation, cleaning services, floor and wall polishing, air-conditioning, plumbing and electrical services. (The Edge Markets)
PM launches Rumawip’s Residensi Pandanmas
Some 700 people received the keys to their brand new homes at the Federal Territories Affordable Housing (Rumawip) Residensi Pandanmas development in Kampung Pandan, Kuala Lumpur yesterday. It began construction in 2014 and was completed nine months ahead of schedule. The project’s units – measuring 850 sq ft and 900 sq ft – cost just RM280,000. Residensi Pandanmas is part of the government’s initiative to ease the burden of low and middle-income buyers (B40 and M40). The government plans to develop 80,000 Rumawip homes in Kuala Lumpur, Putrajaya and Labuan over the span of five years. (New Straits Times Online)
Special PR1MA housing loan scheme via 4 banks
PR1MA home buyers can now apply for the special end financing scheme also known as Flexible Financing Scheme (SPEF), which was launched last February. Interested buyers can apply through four banking partners – Maybank, CIMB, RHB and AmBank. There are two SPEF options, either payment in stages or staggered payments through withdrawal from EPF Account 2. Borrowers will only have to pay interest for the first five years while the principal payment will begin on the sixth and subsequent years until the loan payments are completed. (The Rakyat Post)
Singapore property will ‘at best’ remain stable in 2017
Sentiment in the Singapore property market appears to be improving after the government eased some of its curbs on the sector, but unsold inventory will still weigh in the short-term, said a DBS executive. There could be a small price rebound in the central region due to limited supply, but prices across the island will “at best” remain stable in 2017 due to corresponding demand-supply fundamentals. (CNBC)