News by EdgeProp.my

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.”

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.

“I am neither disappointed nor euphoric (about the budget). This is because I did not expect much from the beginning as the market is rather slow at the moment.”

PR1MA Malaysia chairman Tan Sri Eddy Chen: The revision is a good move, the only thing is that it has to be location-based. Because in some states such as Kelantan, Terengganu and Perak, a lot of the properties are below RM600,000, which means there are not many choices for foreign buyers to acquire.

“The real issue here is the collection of maintenance charges, which has been plaguing the private owned flats and apartments for a very long time and thus affected the maintenance of these buildings.”