“Again and again, end financing is the issue for homebuyers today.”

Real Estate Housing Developers’ Association president Datuk Seri Fateh Iskandar Mohamed Mansor noted that developers are adapting to the current market demand by homebuyers and have launched properties which are more sought after in this challenging market.

Harnessing future trends early on is vital for any business to get the first-mover advantage and to stay ahead of the game.

There must be continuous effort to bring together ideas and best practices on what makes cities sustainable as places to live and work for our future generation, said organising chairman of the 8th International Conference on World Class Sustainable Cities 2016 (WCSC) Chan Kin Meng.

The government should work with property developers to ensure easy accessibility to public transport and infrastructure. 

“For IBS to become more palatable to contractors and developers, I urge the government to ask the contractors for the majority of the contracts awarded to use IBS,” said Rehda president Datuk Seri FD Iskandar Mohamed Mansor.

Urban Wellbeing, Housing, and Local Government Minister Tan Sri Noh Omar said property developers could begin applying for the licence today.

Developers said even a price of RM250,000 would not be a viable price tag, especially in the Klang Valley and other major urban areas.

Being aware of future trends not only enables businesses, including those in the building and construction industry, to stay relevant but also empowers them to improve the community in a dynamic and sustainable way.

The state government is exploring a number of measures to bring down contribution costs imposed upon property developers, said Penang State Exco for Housing and Town & Country Planning Jagdeep Singh Deo.