Stamp
Duty Waived for Residential Property
for Six Months
The
Government will waived the stamp duty for residential property
purchase from developers registered with the Real Estate and
Housing Developers' Association (REHDA), the Sabah Housing Developers'
Association or Sarawak Housing Housing Developers' Association
between January 1 and June 30, 2002. |
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No
claim on strata titles by house owners
There is a trend whereby the property owners of the high rise
apartment units refuse to accept the strata title mainly due
to house buyers refusing to pay stamp duty on their units. |
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Residential
properties sales down to 40% in third quarter
Sales of residential properties in Malaysia dropped in the 3rd
quarter of this year to 40% from 59% in the previous quarter,
according to the latest quarterly Residential Property Stock
Report by the Finance Ministry. |
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SC
eases rules on proceeds from PDS
Companies can now issue bonds to raise funds to build houses
and shops priced above RM250,000 in line with the recent easing
of lending restrictions by Bank Negara. |
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Rehda
welcomes uplift of provision restriction
The Real Estate & Housing Developers Association (Rehda) Malaysia
welcomes Bank Negara’s decision to uplift the restriction on
provision of bridging finance for development of residential
properties and selected shophouses costing above RM250,000. |
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Bridging
finance curbs lifted
Bank Negara has lifted the restriction on bridging finance for
development of residential properties and selected shophouses
costing above RM250,000, a move analysts see as benefiting developers
with the potential to build high-end properties, and one that
may help accelerate loans growth in the banking sector. |
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Real
estate sector needs help to correct overhang
The 2002 Budget was indeed a surprise for civil servants - they
were given a 10% pay rise and half-month bonus (subject to a
minimum of RM1,000). Taxpayers too were given extra money in
their pockets in the form of reduction in personal income tax
of between 1%-2% while the maximum tax bracket is revised to
28% from 29% previously. The real estate sector however did
not have such goodies |
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No
Same Lawyer for Developers and Home Buyers
Lawyers who representing a housing developer will not allow
to represent for the purchasers of the project at the same time,
according to the Bar Council chairman Mah Weng Kwai. |
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States
Agree for Government's Plan to Buy Land for Low Cost Housing
The Housing and Local Government Minister Datuk Seri Ong Ka
Ting said this would ensure that more low cost housing to be
built within the cities to meet the demand for such houses by
low-wage earner and the poor. |
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Putting
Money in Property
For many investors, buying real estate is considered a good
way of building up wealth. Is it entirely true? Special feature
by Roland M S Lee |
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