After four years of uncertainty, 207 non-bumiputera homeowners in USJ One Park, Subang Jaya, Selangor, can finally breathe a sigh of relief as the Selangor government has agreed to waive a staggering RM15.32 million in penalty fees early this year.

The Malaysian property market is said to have performed exceptionally well in 2024, with the total value of property transactions hitting a record high at RM232.3 billion, and the total volume of property transactions reaching 420,545, regaining the momentum of 2011.

It was recently reported that the Housing and Local Government Ministry (KPKT) has blacklisted 109 “errant developers” and their boards of directors.

According to the Inland Revenue Board of Malaysia (IRBM), the e-invoicing mandate applies to all individuals and legal entities, including associations and bodies of persons.

The Urban Renewal Act (URA) is set to be presented in Parliament next month. Among its contentious proposals is an 80% consent threshold for properties of 30 years old and a 75% threshold for properties over 30 years old. This means that a property could be compulsorily redeveloped even if 20% or 25% of owners oppose it.

In recent developments, Kuala Lumpur City Hall (DBKL) is contemplating an increase in assessment tax rates, following the Selangor state government's 25% hike effective from January this year. This move has raised concerns among residents, who are calling for greater transparency and financial accountability from DBKL before any rate adjustments are implemented.

Six months into the job, Kuala Lumpur’s not-so-new mayor Datuk Seri Maimunah Mohd Sharif would have settled into the hot seat, leading a city that is a proxy for Malaysia.

The concept of redevelopment where homeowners exchange their present property titles for another future home unit or monetary compensation is not new in Malaysia.

The National House Buyers Association (HBA) has written numerous articles on the repercussion, ramifications and possible ills of the Urban Redevelopment Act (URA) proposed by the Ministry of Housing and Local Government (KPKT), which is considering a consent threshold as low as 75%.

Recent news have reported that Kuala Lumpur City Hall (DBKL) is considering an increase in both assessment tax and quit rent rates, following the Selangor state government’s 25% hike from January next year.