housing – Pei Ling Gan

KUALA LUMPUR (Jan 31) — Malaysia’s finance minister Thursday said he hopes that property developers can offer up to 15%-to-20% discount on home prices during the first six months of 2019.

“I hope they can offer a discount of 15%-20%. We will let the market forces decide,”Lim Guan Eng said at a news conference in Selangor.

He also hopes developers could sell as many units as possible of 19.50 billion ringgit ($4.77 billion) worth of unsold units.

Malaysian banks have ample funds to lend to prospective buyers, and the government will also offer stamp duty exemption for first-time home buyers between January and June this year for units priced between 300,000 ringgit to 1 million ringgit, Lim said.

In November, the state announced that developers have agreed to offer at least a 10% discount on unsold units to boost sales.

– By Gan Pei Ling
– Edited by Sayantika Bhowal

KUALA LUMPUR (Nov 28) — The Securities Commission of Malaysia will announce in the first quarter of next year the regulatory framework for peer-to-peer home financing, its chairman said Wednesday.

“We’ve completed the first draft for the FundMyHome peer-to-peer, equity crowd financing platform,” Syed Zaid Albar told reporters. “We’ll engage with all the stakeholders.”

Earlier this month, while announcing the federal budget for 2019, the finance minister said private sector would be allowed to engage in peer-to-peer lending scheme, governed by the capital markets regulator, to help home buyers purchase properties through crowd funding mechanism.

– By Pei Ling Gan
– Edited By Abhrajit Gangopadhyay

Tag: housing

Malaysia Finance Minister Hopes Developers Can Offer Up To 20% Discount On Home Prices

Malaysia To Announce In 1Q Regulatory Framework For Peer-To-Peer Home Financing-SC Chairman