For real estate negotiators, they have learnt to stay agile and constantly engage with clients to stay relevant in the industry.

On July 2, 2020, the Subang Jaya Magistrate’s (Municipal) Court convicted and fined a defendant (defaulting strata owner) who failed to comply with an award of the SMT ordering payment of outstanding charges and contribution to sinking fund within 30 days from the date of award. The presiding Magistrate, Barath Manian imposed a fine of RM5,500 on the defendant or in default one (1) month imprisonment. The prosecuting officer was Emyshimy Rizal Nasaruddin.

Although floor premiums are attached to first-hand properties, a random check shows there has been no clear trend of such premiums for similar units sold on the secondary market.

Most of the local economists contacted are of the view that BNM is unlikely to trim OPR for the rest of the year. It will only do so if the Covid-19 outbreak worsens.

Over the last few years, the Malaysian property market has been characterised by sluggish sales and a rising number of unsold homes. Developers are sitting on large stocks of inventories, which are stretching their balance sheets, funded by borrowings from banks, and the debt and capital markets, including issuing perpetual securities. The sector’s poor outlook is reflected in the low valuation of property stocks, most of which are trading at around one-third book value.

How did this situation come about?

Edgeprop Malaysia’s Best Managed and Sustainable Property Awards with a touch of social distancing

Below 10 years specialised category Special Mention: AirAsia RedQuarters

Below 10 years multi-own strata residential Special Mention: Anyaman Residence

EdgeProp-ILAM Malaysia’s Sustainable Landscape Award 2020 Special Mention: Urban Park @ Eco Spring

10 years and above non-strata office Bronze: Quill 9