Govt urged to review RM1mil threshold for foreign buying of properties
Johor Rehda is calling the government to consider reviewing the current threshold of property acquisition by foreigners. According to Johor Rehda chairman Datuk Steve Chong Yoon On, the minimum threshold of RM1mil per unit imposed in 2014 should be reverted to RM500,000. The measure was introduced by the previous administration to stabilise domestic prices from excessive speculation to enable local interests to acquire quality properties valued less than RM1mil per unit, especially residential units. Chong said that the authorities should not be alarmed as local buyers were unlikely to be affected should the suggestion to be implemented, as developers only allocate 10% of the properties developed in their project for foreign buyers. He said Johor was unique due to its close proximity with Singapore and the state government would benefit with Singaporeans owning properties especially in Iskandar Malaysia. (The Star Online)
Govt, BNM working to ease housing loan terms and conditions
The government and Bank Negara Malaysia (BNM) are working to ease the terms and conditions for housing loans without affecting the stability of the financial system. Finance Minister Lim Guan Eng said the ministry would take action if it were to receive any report from developers on housing loan applications being rejected without strong justifications. He added that the ministry would forward the reports to BNM to be investigated and for the central bank to assist those affected in obtaining housing loans. (Malay Mail)
KPKT: State govts to discuss redevelpoment of old housing
The Housing and Local Government Ministry (KPKT) will discuss with the state governments the re-development of housing, especially flats which are more than 30 years old. Minister Zuraida Kamaruddin said the requirement to check or re-develop old housing was included in the national housing policy. 222 residents of 40 units in Block F of Pangsapuri Taman Keramat Permai in Kuala Lumpur who were relocated recently. This was after cracks found in the apartment structure reportedly became worse and the block seemed to be tilted to one side. (The Sun Daily)
Over 10,000 affordable housing units to be built in Manjung
A total of 10,500 affordable housing units will be built at Bandar Baru Setia Awan Perdana in Manjung, near Lumut in the next five years in an effort to enable more people to own a house. Perak Menteri Besar Datuk Seri Ahmad Faizal Azumu said the development that began in 2016 was the largest affordable housing project in Perak that offered five-star facilities such as club house, government offices and tropical lake garden. The project, led by Taraf Nusantara Sdn Bhd, and in collaboration with the Perak State Development Corporation (PKNP), also marked the beginning of an affordable township. The first phase involving 1,147 housing units was already completed while the next phase expected to be ready within three to five years and all affordable homes were priced below RM200,000. (Malay Mail)
No more death benefit payments for Selangor citizens
The Selangor government has decided that it will discontinue the “wang khairat kematian” or death benefit payments for its citizens. Selangor Mentri Besar Amirudin Shari said this is because the state government will be introducing the Skim Mesra Usia Emas (SMUE), a scheme for senior citizens, on April 30. He said that there would be no payments made upon the death of anyone aged 60 years or above from the state, adding however, that the SMUE was meant for seniors to enjoy benefits while they are still alive. Seniors who wanted to enjoy SMUE benefits must be registered. (The Star Online)
