Bank Negara Malaysia's cutting of the overnight policy rate (OPR) from 3.25% to 3% yesterday can boost the people’s consuming power, especially for property, Bernama reported Datuk Tan Hong Lai, Green Target Group managing director and CEO saying today.
The city has been sort of underrated over the years as a tourist spot in Malaysia, with the Pearl of the Orient, Penang; and historical Melaka hogging the limelight in the peninsula and Land Below the Wind, Sarawak across the South China Sea drawing in visitors.
Hotels are so last year. So much better to get into the culture of a country by living in one of the people’s homes. But what happens when the same people get all worked up by your presence?
The province’s “action plan” to meet this goal include “easing restrictions on residents buying properties in other cities, encouraging migrant workers to buy urban homes, and reducing land supply in cities that face mounting inventories”.
Rykadan acquired the 2,920 sq ft site at 7 Kwun Chung Street from the authorities for HK$194 million more than three years ago after beating numerous bidders.
The rising price of homes is one of the biggest complaints of Malaysians, especially for city folk. Many are saying that they cannot afford most of the homes for sale out there, and we are not even talking about location and quality yet.
No one was reported to be injured in the 2.30pm incident, although witnesses were shocked by the commotion caused by the falling glass panels.
The two projects are Gravitas, a mixed-use development with a GDV of RM1.1 billion; and Crescent Dew, a luxury residential development with a resort concept that has a GDV of RM700 million.
Rental yields are higher in Subang than in Ara Damansara, due to the lower capital bases and generally smaller unit sizes found at the apartments and low-cost flats in Subang.
The property market in Ara Damansara has benefitted from its proximity to the established neighbourhoods of Kelana Jaya and Petaling Jaya while the property market in Subang has stagnated.
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