HBA: Do not neglect the hidden risks while encouraging homeownership
Developers may ignore building affordable homes and focus on constructing luxury properties priced above RM600,000 targeting foreign buyers.
Economists and analysts: A balanced and positive budget
RHB Research Institute senior analyst Loong Kok Wen deemed the property-related measures announced in the Budget 2020 today as “neutral to positive” and expect market sentiments to be slightly lifted.
PAM commends the initiatives proposed, but notes room for improvement
“Many of these new projects are valuable opportunities to create new national icons to showcase and promote Malaysian talent and design professionals. The creative economy must be engendered locally besides the proposed customised incentives of RM1 billion annually for 5 years, to bring in Fortune 500 and “global unicorns” to spearhead the creative economy.”
Impact of lowering foreign buying threshold depends on states
“It remains uncertain whether each particular state government will adopt the federal government’s proposal to lower the foreign buying threshold for condominiums and apartments in urban areas from RM1million to RM600,000 in 2020.”
Rehda institute lauds move to encourage home ownership through RTO
Rehda Institute also appreciated the government’s effort in introducing the Home Ownership Campaign (HOC) which has generated strong market interest and achieved good sales results. The association hopes the government will consider extending the campaign to next year in light of its success.
Budget 2020: Rahim and Co cautions potential home buyers to not take on too much debt, has neutral outlook on Budget 2020
“I am neither disappointed nor euphoric (about the budget). This is because I did not expect much from the beginning as the market is rather slow at the moment.”
New foreign buying threshold should be location-based and limited to unsold completed units
PR1MA Malaysia chairman Tan Sri Eddy Chen: The revision is a good move, the only thing is that it has to be location-based. Because in some states such as Kelantan, Terengganu and Perak, a lot of the properties are below RM600,000, which means there are not many choices for foreign buyers to acquire.
MIPFM: The real challenge of strata housing maintenance lies in the collection of maintenance charges
“The real issue here is the collection of maintenance charges, which has been plaguing the private owned flats and apartments for a very long time and thus affected the maintenance of these buildings.”
Budget 2020 a boon for Johor economy and property, says KGV International Property Consultants
The RM85 million allocation for the Causeway and Second Link would be a boon to Johor that would result in more investment in Johor, and higher demand for property.
Budget 2020: Still need more to stimulate property market, says Rehda
He also commended the proposal to reduce the foreign home ownership threshold for condominiums and apartments in urban areas to RM600,000.
