indepth

Property Chat: BTS 10:90 is not BTS

In the absolute BTS system, developers can only sell finished products that are ready for buyers to occupy, as opposed to the conven­tional sell-then-build (STB) system, where buyers pay 10% of the house price, followed by progressive payments as the developers build.

READ MORE
indepth

Abandoned projects: When will preventive action be taken?

Datuk Chang Kim Loong: The grave injustice to innocent house buyers is to end up being victims of abandoned housing projects. It is a traumatic experience to have placed your entire savings to own a home, only to discover the house will never get completed, and worse, you still have to service the bank loan.

READ MORE
indepth

6 things to note before you renovate your house

The gist of renovation refers to varying the original design of the existing habitat or housing unit either by addition, omission, or a combination of both. Some common examples are kitchen extension, adding a bedroom upstairs, a study downstairs, widening the living area, etc.

READ MORE
indepth

Renovation: Get it right from the start

As common as this practice is though, excessive and indiscriminate renovations, approved or otherwise, make the whole neighbourhood appear disjointed, incongruous, uncoordinated, disharmonious and even at odds with the house next door, and as a result, the value of these properties suffer

READ MORE
indepth

False declaration a serious offence

The basic purpose for a statutory declaration is to obtain confirmation of execution of any deed, written instrument or allegation or proof of debt which would otherwise be too impossible to prove. In other words, it is to provide written proof to confirm something either too tedious or impossible to verify

READ MORE
indepth

Booking fees: Legalising the prohibited?

“It is therefore clear that the Parliament no longer saw fit for housing developers to collect booking fees before the signing of SPA. This has put to rest any notion that the collection of booking fees is still permissible.”

READ MORE
indepth

No free lunch in loan moratorium

Datuk Chang Kim Loong: One thing is certain though, similar to the 2020 moratorium, the 2021 one does not reduce borrowers’ lending costs as it is not interest-free. Hence, interests will continue to be charged during the moratorium period, and ultimately, borrowers will end up paying more to the banks when the moratorium period ends.

READ MORE