News by Datuk Chang Kim Loong

The National House Buyers Association (HBA) views the incentives announced in Budget 2025 on affordable housing and homeownership with high optimism and anticipation.

The issue of inheritance tax has recently resurfaced when it was reported as one the proposals by “some financial analysts” for the upcoming Budget 2025. The purpose cited by the so-called expert was to “prevent the accumulation of unproductive wealth in families; which could help reduce wealth inequality”. And as with all taxes, it would of course, as claimed, be helpful in broadening the tax base and boosting government revenue. 

Doesn’t KPKT know that urban revitalisation, urban conservation and urban revival can be implemented within the existing legislative framework without the need to introduce URA?

The controversy surrounding the compulsory supply of actual water and electricity upon vacant possession (VP) under the sale and purchase agreement (SPA) that was prescribed under the Housing Development (Control and Licensing) Act 1966 (HDA 1966) has finally been laid to rest following the Federal Court’s decision in the case of Remeggious Krishnan vs SKS Southern Sdn Bhd (formerly known as MB Builders Sdn Bhd) [2023] 3 MLJ 1.  

The government has proposed the Urban Redevelopment Act (URA) legislation, saying it is a solution to urban slums. However, the National House Buyers’ Association (HBA) views this as a myth. Instead, the URA is merely scratching the surface rather than addressing the root causes.

The proposal of the Urban Redevelopment Act (URA) has been reported to be going ahead despite a host of dissenting voices. 

In Malaysia, it is not uncommon to hear of protests against proposed developments, such as new high-rise, urban renewal or transportation infrastructure projects, when the affected community perceives them to be detrimental to the neighbourhood with over-population or negative impacts on life quality or the environment. 

The Madani Government has made several press statements and announcements during the past year and more recurrently in recent months regarding its intention to introduce a new law aimed at facilitating the urban renewal, redevelopment, rejuvenation and regeneration of certain identified private properties in the urban areas, namely Kuala Lumpur, Johor Bahru and Penang.

The Tribunal for Homebuyer Claims, aka Housing Tribunal (Tribunal), has been intended as a fast, cheap and simple avenue for aggrieved house buyers to seek redress. Since its establishment in 2002, numerous buyers have successfully obtained compensations ranging from late delivery of vacant possessions to defective workmanship.

The National House Buyers Association (HBA) views with concern the reports of a new public housing scheme by the Ministry of Housing and Local Government (KPKT) named Program Residensi Rakyat (PRR), where it was reported that the construction cost of each PRR unit will be raised to RM300,000, but will be sold only at RM60,000.