/// West Malaysia Property News
WEST MALAYSIA
PROPERTY NEWS
Sharing news and information about various issues
related to the property industry from Peninsular Malaysia.
Properties in KL Penang, Iskandar
Continues to Attract Foreign Interest
Netizens Share Their Views on Property
Prices
an outright ban on any individual
owning more than one property),”
said Michael.
However, many are not convinced
that RM14,580 a month is needed
to afford a home in the Klang
Valley.
Property investment consultant
Datuk Seri Gavin Tee expects to
see more interest from foreigners
in Malaysia’s property sector
despite the Budget 2014 cooling
measures.
In spite of the hike in Real
Property Gain Tax (RPGT) and
he higher minimum purchase
piece for foreigners, more foreign
interest is expected, especially
in the Greater Kuala Lumpur,
Penang and Iskandar regions.
“China, Macau, Hong Kong
and Taiwan have even tougher
tightening measures compared
to Malaysia;s cooling measures
which are relatively mild,” Tee
said adding that property prices
in some growth areas have the
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www.PropertyHunter.com.my
potential to hit record highs.
He also said there will be more
choices fr those purchasing
properties for their own use, as
prices are expected to correct
slightly in residential and
commercial areas.
Besides that, he expects the
property market to be lifted up
towards the end of March, driven
by investors and developers reentering the market.
He said that large-scale projects
by the government will be
driving Malaysia’s growth in the
next couple of years, adding
that he is the most optimistic of
developments in Greater KL and
Melaka.
Several Netizens have shared
possible solutions to the high
property prices on several social
media platforms.
Ungku Abdul Hafiz advised people
not to be fooled by developers who
say that house prices are going up.
“The developers like to create
hype and urgency so that people
will continue to buy houses even
though they can’t afford it,” she
said.
Michael G believes that
decentralisation is the short-term
answer to solving the high housing
prices.
“But before that, I would suggest
both government housing (i.e.
no private property, with statecontrolled rent) and a much
heavier property gains tax (if not
Facebook user Wai Keat agrees
that the study does not reflect
the actual situation in Klang Valley
because the study only covered a
small group of 1,529 respondents.
Mohd Luqman Abdullah also points
out that the figures may vary based
on location, type of housing and
the size of the home.
Another user, Grace Chong,
comments that the sample
doesn’t represent the average
homeowner’s salary: “Most people
I know earn between RM3,000 and
RM5,000 a month. They are not
rich nor poor and they survived.”
While @farahaziz tweets: “I own
a house in the Klang Valley and
I definitely have a much lower
monthly household income.”