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.

Under the Valuers, Appraisers, Estate Agents and Property Managers Act 1981, personnel and/or companies that manage property and/or buildings, be they residential or commercial, are property managers (PMs) who are required to be registered with the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP).

Indeed, homes need to be safe, secure, comfortable, of quality and affordable in order to be defined as “humane”, or rather, fit for habitation by human beings. At the same time, “humane” may mean differently to people of different backgrounds, life experiences and economic situations.

So, you can’t wait to take vacant possession of your new home. If this is your first home purchase and your investment has been greatly influenced by the developer’s elaborately dressed show unit, brace yourself for the stark reality of owning a bare unit.

While life-long renting is a norm in some countries, Malaysians are only beginning to warm up to the idea.