Treading cautiously while remaining optimistic

2015 was indeed a challenging year for the market due to several internal and external issues, such as the implementation of the Goods and Services Tax (GST), the weakened ringgit, political uncertainty, and property market cooling measures, resulting in poor consumer sentiment.

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Country Garden expands landbank in Nanjing

PETALING JAYA (March 10): Chinese property developer Country Garden Holdings has purchased eight pieces of land for its three residential property developments in Nanjing on March 7,  according to a report by Chinese news media.

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EcoWorld’s Karisma apartments 85% sold

SEMENYIH (March 9): About 85% of Karisma apartments – a project by Eco World Development Group Bhd (EcoWorld) – were taken up since its launch on Feb 21 this year, according to the company.

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GST slowed down launches of commercial units

PETALING JAYA (March 9): The Goods and Services tax (GST) which was introduced in April last year has reduced demand for commercial properties in the market due to the additional 6% cost that buyers have to pay, said Real Estate and Housing Developers’ Association Malaysia (Rehda) deputy president Datuk Soam Heng Choon.

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