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Soh: 2025 Budget demonstrates strong support for first-time homebuyers

KUALA LUMPUR: The government’s proactive measures in the 2025 Budget showcase a strong commitment to supporting first-time homebuyers in Malaysia, said Kenneth Soh, Country Manager for Malaysia at PropertyGuru and iProperty. He noted that affordability remains a major concern, and the government’s allocation of RM900 million for the People’s Residence Programme (PRR) and Rumah Mesra...

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China boosts funds for embattled property sector

BEIJING: China will expand a “white list” of housing projects eligible for financing and increase bank lending for such developments to four trillion yuan or about US$562bil, Housing and Urban-Rural Development Minister Ni Hong says. Redevelopment of cities will also gather pace, with a million “urban villages” to be included in such plans, Ni said...

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Penang industrial land prices increase

George Town: Industrial land prices in Penang have increased by about 10% compared to a year ago. One Asia Property Consultants (Pg) Sdn Bhd executive director Chandra Mohan Krishnan said the market price in the state ranged between RM65 and RM85 per sq ft. The price depends also on the property’s location, whether it is...

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LBS Bina unveils RM9.5 bil GDV Rimbawan township in Genting Highlands; Budget 2025 wishlist

KUALA LUMPUR (Oct 16): LBS Bina Group Bhd (KL:LBS) officially launched its latest 315-acre township development named Rimbawan in Genting Highlands, Pahang on Tuesday (Oct 15). The township has a gross development value (GDV) of RM9.5 billion. According to the press statement issued on Tuesday, the township will offer bungalow lots, landed properties, high-rise residential units, commercial lots,...

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Malaysia could supercharge FDI through Budget 2025 initiatives

KUALA LUMPUR: Malaysia could supercharge its foreign direct investment (FDI) through Budget 2025 by offering bold tax incentives, streamlined regulations, and targeted sector support, said analysts. SPI Asset Management managing partner Stephen Innes said cutting corporate taxes for key industries like technology, renewable energy, advanced manufacturing, and expanded research and development (R&D) credits would attract...

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Selangor to exempt development charges for affordable housing projects from 2025

SELANGOR (Oct 10): The Selangor state government will exempt property developers from development charges for projects of several affordable housing schemes, including Rumah Idaman and Rumah Selangorku Harapan, effective January next year, according to Selangor state housing and culture exco Datuk Borhan Aman Shah. Borhan said at the Rehda Selangor Housing Convention 2024 on Thursday at the Setia City Convention Centre, that this...

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New projects enjoy sales surge in Iskandar Puteri

PETALING JAYA: Property developers with strategic land banks in Iskandar Puteri, Johor, have enjoyed brisk sales for their recent launches as connectivity improves.This trend is augmented by growing demand for industrial properties and land for data centre developments in the state, according to CIMB Securities Research. Following its recent visit to two major developments in...

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SkyWorld partners with PR1MA to build affordable homes in Brickfields

KUALA LUMPUR (Oct 9): SkyWorld Development Bhd today announced that its wholly-owned subsidiary, Aspirasi Cekap Sdn Bhd (ACSB), has entered into a joint development agreement (JDA) with PR1MA Corp Malaysia to build PR1MA Homes on a 1.97-acre leasehold land in Brickfields, Kuala Lumpur. The project, known as SkyAwani Prima, will feature 491 units of affordable apartments, each...

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Penang high-end condominium prices up

GEORGE TOWN: High-end property prices in Penang rose by 7% to 10% in 2024 from a year ago, reflecting the steady demand among locals and foreigners. One Asia Property Consultants (Pg) Sdn Bhd executive director Chandra Mohan Krishnan said prices had increased in Bayan Baru, Pulau Tikus and Seri Tanjung Pinang as buyers went for...

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Unaffordable homes: Median prices are RM335k, while average monthly salaries are RM3k

KUALA LUMPUR: Affordability remains a major issue in the property market, with the median house price at RM335,000 while average monthly salary at around RM3,000 to RM3,500. Kenanga Investment Bank Bhd (Kenanga Research) said in its note that this gap challenges many Malaysians, particularly first-time home buyers under 35 years of age. National Property Information...

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