News by EdgeProp

Under Budget 2020, the RPGT rate is maintained at 5% (10% for companies and foreign owners) if the property is sold after the fifth year, however, the valuation base year has been adjusted to year 2013, from year 2000.

The capsule hotel opened in 2014 at level 1 of klia2’s landside area. Due to ample demand, CapsuleTransit underwent two expansions in 2015 and 2017. It now offers 204 pods.

To date, BOVAEP has approved the application of 1,505 practising property managers who were not registered with the board before, says BOVAEP board member Ishak Ismail.

If the management body chooses to hire a professional property management, how do they pick the right one? Do you know what their duties entail? With so many property management companies out there, what would you need to consider before appointing one as your building and property manager?

Developers may ignore building affordable homes and focus on constructing luxury properties priced above RM600,000 targeting foreign buyers.

RHB Research Institute senior analyst Loong Kok Wen deemed the property-related measures announced in the Budget 2020 today as “neutral to positive” and expect market sentiments to be slightly lifted.

“Many of these new projects are valuable opportunities to create new national icons to showcase and promote Malaysian talent and design professionals. The creative economy must be engendered locally besides the proposed customised incentives of RM1 billion annually for 5 years, to bring in Fortune 500 and “global unicorns” to spearhead the creative economy.”

“It remains uncertain whether each particular state government will adopt the federal government’s proposal to lower the foreign buying threshold for condominiums and apartments in urban areas from RM1million to RM600,000 in 2020.”

“We understand these buildings have to be repaired but do not send the wrong message (that the government will come and rescue), otherwise nobody will pay the maintenance fees.”

Rehda Institute also appreciated the government’s effort in introducing the Home Ownership Campaign (HOC) which has generated strong market interest and achieved good sales results. The association hopes the government will consider extending the campaign to next year in light of its success.