In our earlier article “Renovation: Get it right from the start”, we have discussed the emergence of the renovation industry due to the mass housing developments which fail to meet individual buyers’ needs.
KUALA LUMPUR (Oct 5): The mandatory policy of provision of affordable housing should be “relooked”, Real Estate and Housing Developers’ Association (Rehda) president Soam Heng Choon (pictured) told the FMT in a report today.
Mass housing development is the mass production of a few standard home designs that often fail to satisfy any actual house buyer’s need, thus inadvertently leading to the emergence of a spin-off industry known as “renovation”.
Complaint One: “I received the keys to our home and to our dismay, the property had many defects, ranging from minor problems to major misalignments of the walls and beams.
The collection of booking fees by developers is a common practice in Malaysia during property transactions, but many might not be aware that it is actually prohibited under the Housing Development (Control and Licensing) Regulations 1989 (HDR).
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz in June 2021 announced a six-month loan moratorium under the RM150 billion PEMULIH stimulus package.
Abu Kassim had been staying at a condominium for 12 years, diligently paying his dues.
It has been a common practice for banks to impose fees for standardised loan agreement documents that are needed in the housing loan application process.
Some time ago, we received an email from an observer who was at a developer’s office.
When a developer is wound up before completion of its duties and contractual obligations, a liquidator fills the void and takes on the duties of the former, such as completing the construction of the buildings or facilities left by the defunct developer, delivering vacant possession or applying for individual or strata titles, so as not to leave the purchasers in a lurch.
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