Array of deals for homebuyers amid downturn
The current property market downturn in Malaysia has pushed property developers to offer myriad attractive packages, freebies and even financial assistance to lure purchasers.
LBS Bina revises sales target down to RM1 bil for 2020
PETALING JAYA (July 27): Due to the Covid-19 pandemic and the ensuing Movement Control Order (MCO), LBS Bina Group Bhd (LBS) has revised its 2020 sales target to RM1 billion from the previously set figure of RM1.
MCT falls into the red in 1Q on hedging losses and lower sales
KUALA LUMPUR (July 1): Property developer MCT Bhd recorded a net loss of RM21.
EcoWorld posts lower 2Q net profit due to MCO, but sees big rebound in sales during CMCO
KUALA LUMPUR (June 25): Eco World Development Group Bhd’s (EcoWorld's) net profit fell 48% to RM21.
Hua Yang narrows 4Q loss to RM4m, full-year net profit at RM2.2m
KUALA LUMPUR (June 24): Hua Yang Bhd's net loss for its fourth financial quarter ended March 31, 2020 (4QFY20) narrowed to RM4.
Penjana economic package: No sales tax on locally-assembled cars purchased between June and end-December
KUALA LUMPUR (June 5): The 10% sales tax on complete knock down (CKD) passenger vehicles will be waived while the tax on completely built-up (CBU) passenger vehicles will be halved to 5%, said Prime Minister Tan Sri Muhyiddin Yassin.
REHDA: Incentives under Penjana aimed at easing homeownership
PETALING JAYA (June 5): The Real Estate and Housing Developers’ Association (REHDA) Malaysia is confident that the incentives to stimulate the property market under the Penjana Short-term Economic Recovery Plan (ERP) could help alleviate the financial burden on homebuyers and ultimately contribute to economic growth.
PM announces reintroduction of Home Ownership Campaign and RPGT exemption
KUALA LUMPUR (June 5): The government wants to stimulate the property sector again and it is with this in mind that Home Ownership Campaign (HOC) will be reintroduced while there will also be stamp duty and Real Property Gains Tax (RPGT) exemptions.
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Government likely to reintroduce HOC
PETALING JAYA (May 28): The government is expected to bring back the Home Ownership Campaign (HOC) as part of the country’s economic recovery plan in the second half of the year.
Supply of serviced apartments being reduced amid overhang
PETALING JAYA (May 1): Johor has the highest number of overhang serviced apartments in the country but the situation is being mitigated by the state government's move to freeze applications for such developments in the state.
