Market outlook on the Klang Valley, Johor and Penang

DESPITE its subdued performance last year, the Klang Valley property market seems to be picking up momentum this year with encouraging take-up rates observed in the first two months, especially after the Chinese New Year, says Zerin Properties CEO Previndran Singhe.

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More affordable resale HDBs for first-time applicants

SINGAPORE (Feb 20): Finance Minister Heng Swee Keat announced, with immediate effect, in his Budget statement today that the CPF housing grant has been raised to S$50,000 (RM157,144) for first-timer couples buying four-room or smaller HDB flats from the resale market.

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‘PR1MA scheme has minimal impact on banks’

Banking sector Maintain neutral: On Tuesday, Perumahan Rakyat 1Malaysia (PR1MA) announced that the Special PR1MA End-Financing Scheme for first-time house buyers announced in Budget 2017 will benefit at least 15,000 buyers.

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DONE DEAL: Park Seven condominium, KLCC

Sold for: RM2,450,000 (RM875 psf) Concluded by: Daniel Wong (REN 01967) of Sang Associates  (013-3868108) When: August 2016 Noteworthy: ● Freehold ● 2,800 sq ft ● Developed by Selangor Dredging Bhd ● Completed in March 2008 ● 7 blocks of 20 storeys ● 105 units in each block ● Private lift and private lobby ● Unit has a view of Royal Selangor Golf Club and the greenery of Jalan Stonor ● Two car parks ● Maintenance fee is 48 sen psf According to the agent, Daniel Wong of Sang Associates, the selling price of this unit was slightly below market price owing to the slow market.

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