News about KPKT

“The Malaysia property market in 2024 is expected to be stable and continue growing in the next three years, supported by various initiatives outlined by the MADANI Government under Budget 2024.

SPNB is owned by the Ministry of Finance, but its operations are governed by the Ministry of Housing and Local Government.

According to Deputy Minister of Housing and Local Government Datuk Aiman Athirah Sabu, there are 175 unlicensed abandoned private housing projects remaining in Peninsular Malaysia.

“Another thing we are suggesting is that when you file income tax, the number of houses you have bought will be automatically stipulated in your income tax form.

Housing and Local Government Minister Nga Kor Ming: Therefore, many of our cities, especially in Kuala Lumpur, are potential slums if we do not do anything.

Named the Madani Muhibah Ceremony, the event featured 20 food stalls representing Malaysia's multiracial communities including Sabah and Sarawak.

He acknowledged that KPKT and the state authorities are still facing challenges in addressing this issue, including detecting individuals who may build housing units in rural and suburban areas, and in pocket developments where the scale of the project is small and may go undetected.

Minister Nga Kor Ming said the market, which is an attraction for tourists visiting Ipoh, would undergo phase two of upgrading works ahead of Hari Raya Aidilfitri.

PEPS president Subramaniam Arumugam: Micromanaging the real estate sector in this sector in this manner, particularly through a government bureaucracy, may not align with investor-friendly policies.

Aside from the completion of a number of housing projects for the rakyat, KPKT also introduced a number of guidelines for urban planning and sustainable developments in our cities that will be set in motion over the next few years.