Festive home visits only allowed on first day of Hari Raya, Kaamatan, Gawai

Visiting during the coming Hari Raya Aidilfitri, Pesta Kaamatan and Hari Gawai will only be allowed on the first day of each celebration, said Senior Minister Datuk Seri Ismail Sabri Yaakob. He said visiting on the first day of each celebration is limited to immediate family members. However, the gathering cannot exceed 20 people in one day. The size of the house must also be taken into consideration for social distancing. In Malaysia, Hari Raya Aidilfitri is expected to fall on May 24 and 25, while Pesta Kaamatan and Hari Gawai are celebrated on May 30 and June 1 respectively. Thousands of Malaysians usually travel to their hometowns to be with their families during this time. (Malay Mail)

Speaker says no debate in Dewan Rakyat on May 18 sitting

The Dewan Rakyat proceeding on May 18 will end immediately after the Agong delivers the Royal Address with no debate scheduled for the remainder of the day, Speaker Tan Sri Mohamad Ariff Mohd Md Yusof announced. The decision was reached by Prime Minister Tan Sri Muhyiddin Yassin on health concerns, Ariff said in a statement issued this afternoon, citing the ongoing government effort to contain Covid-19. The Opposition has been pressuring Muhyiddin to extend Monday’s sitting for at least two days, citing concerns over the lack of time to scrutinise the Perikatan Nasional (PN) administration’s response to the Covid-19 crisis. Two days ago, Mohamad Ariff confirmed that former prime minister Tun Dr Mahathir Mohamad had submitted a no-confidence motion to be tabled in Dewan Rakyat, but did not specify a date for the vote to be called. (Malay Mail)

Developers keen to build co-living accommodation

Co-living, a niche asset class, is gaining traction in Malaysia, and developers are interested to build in this segment of the property market, post-Covid-19, says Knight Frank Malaysia. According to the firm’s recent report, 58% of respondents are exploring or planning to develop co-living. Co-living, a modern, urban type of accommodation with shared living spaces is popular in large, international, expensive cities overseas and also among millennials and Generation Z who have grown up with technology, social media, and the sharing economy. Knight Frank Malaysia Capital Markets executive director James Buckley said as Kuala Lumpur has become more expensive, co-living addresses some of the issues around living in the centre of the city where it offers an agile lifestyle living with no worry about a mortgage. He believes the drop in occupancy is likely to be short-lived, and once the Covid-19 crisis subsides, there will be growing interest in this sector. (NST Online)

Property asking prices in key markets go up

Asking prices for property are on the increase in major markets in Malaysia, despite the unprecedented impact of the COVID-19 outbreak and resulting movement control order (MCO) on industries across the board. Selangor showcased the highest rise in asking prices, rising 1.94% in Q1’20, followed by Kuala Lumpur with a 1.81% increase over the same period. Meanwhile, Penang and Johor saw asking price downtrends continuing from recent years. The moderation of price growth, as well as transaction volumes and values in recent years, may have had a buffering impact on the market. An upswing in asking prices in major metropolitan areas can also be seen in the first quarter, pointing towards a rise in interest in these areas as Malaysia takes a ‘soft-landing’ approach post-MCO. The upswing also points towards strong interest in the central region, which is in line with increased investor activity in high-rise projects closer to metropolitan areas during crisis years. (The Sun Daily)

UDA in talks with banks to implement payment system for housing financing

Property development and asset management company, UDA Holdings Bhd is in talks with several commercial banks in the country to implement a payment system for effective housing financing. Its CEO Mohd Salem Kailany said, so far one bank has agreed to cooperate with UDA Holdings in establishing the payment system but declined to elaborate further. Commenting on the latest property project, Mohd Salem said UDA Holdings is reviewing five new affordable housing projects scheduled to be launched this year. UDA Holdings recently said it will launch at least five residential projects targeting at young people this year. It plans to develop 1,000 residential units in Kuantan, Kuala Terengganu, Penang, Johor Bahru and Kuala Lumpur. (NST Online)