News about housing

“The real danger is when borrowers are already struggling to service the monthly loan instalment before the OPR increase, they will definitely find it very difficult to pay for even the slightest increase in loan instalments.

In its recent OPR announcement, BNM highlighted that Malaysia’s GDP measure for 2023 indicates an improvement in the nation’s economic activity.

Based on the theme “Madani Planning in SDG2030 acceleration”, the event will see speakers from various Commonwealth and ASEAN nations join in to share their insights on urban planning.

This is despite calls from some quarters for the central bank to raise the key interest rate to help stabilise the ringgit, which is near a 25-year low against the US dollar.

The Local Government Development Ministry’s initiatives to assist affected homebuyers include issuing letters to confirm the status of the projects, to be presented by the buyer to financial institutions, and entities such as the Employees Provident Fund (EPF) and the Public Sector Home Financing Board (LPPSA).

BTS would also mean buyers could decide based on the finished product, which would inadvertently lead to improved workmanship and material quality.

Next month, the ministry will meet the Real Estate and Housing Developers’ Association (Rehda) Institute to discuss what incentives the government should provide to developers to encourage them to practise the build-then-sell concept, Local Government Development Minister Nga Kor Ming said in his welcome speech at the opening ceremony of the Malaysia Property Expo (MAPEX) 2023 at the Mid Valley Exhibition Centre on Friday.

Datuk Seri Fateh Iskandar Mansor said it is not the best time for the government to implement such measures as the local property market is slowly recovering from the Covid-19 pandemic and headwinds from rising inflationary pressures.

PLANMalaysia has conducted a series of engagements with stakeholders including federal government agencies, state and local authorities, online travel platforms, hoteliers and host associations.

“The ministry has also taken action to freeze 20 housing development accounts (HDA) for projects in the sick category.