Questions to ask when buying high-rise
With the rapid increase in Malaysia’s population, especially in the urban centres, high-rise homes have proliferated in recent decades.
With the rapid increase in Malaysia’s population, especially in the urban centres, high-rise homes have proliferated in recent decades.
Home ownership affordability, or rather, unaffordability, has been a hot-button issue for the longest time, not just domestically but also in many parts of the world. This is unsurprising. Housing is a basic human need (right), with significant long-term health and economic consequences to the country — and a politically sensitive issue for governments, as it is closely associated with discontent over rising income-wealth inequality, whether real or perceived.
Everyone who buys real estate in Singapore is subject to Buyer’s Stamp Duty (BSD). On top of this, for residential properties, depending on certain criteria, buyers are to pay another tax called the Additional Buyer’s Stamp Duty (ABSD). The two taxes are computed based on the purchase price of the property or its market value, whichever is higher.
Are we living sustainably? Will Earth still be liveable for our future generations?
Countries are looking for alternatives to address this pressing issue; and designs that favour walking, cycling and public transport are perceived as effective strategies.
Let’s face it, property prices are not about to drop just because the market clamours for it. While we do hear of the isolated fire sales on the secondary market, truth be told, I have yet to know of anyone who has managed to seal a hot deal.
Considering how evidently the pros outweigh the cons, the answer’s a no-brainer.
It is incredible how an attempt to improve the Malaysian public housing model, which is totally outdated and no longer feasible, could be viewed in a negative light.
If we do not innovate and try new ideas, we can never make progress.
he excesses of the past decade, the borrowing binge fuelled by ultra-low interest rates and liquidity, are coming back to bite us, no doubt.