News by M

De-gearing exercise is to strengthen its financial footing

The move to immediately limit sales of new homes priced up to RM300,000 to first-time homebuyers has drawn especially strong reactions.

Petaling Jaya residents want to be given more time to study the state transport master plan due to concerns over its impact on their neighbourhoods.

Mayor Mohd Azizi Mohd Zain said that the move was part of the plan to make Petaling Jaya a City of Art.

Only standard three-bedroom flats with sizes of 700 to 750 sq ft in Green Lane appreciated by 11.7% to RM380,000 from RM340,000, while average prices of standard three-bedroom apartments/condominiums (excluding luxury types) of over 900 sq ft in Island Park/Glades inched up 2.1% to RM480,000, from RM470,000 in 3Q2014.

Indicative annual rental yields as calculated from asking rentals observed at June 2015 are fair, ranging from 4.0% to 7.5%. The highest asking rental yields can be found at Pantai Apartment (7.5%) in Butterworth.

Mayor Datuk Mhd Amin Nordin Abdul Aziz said the new process would reduce the number of procedures and days for approval of construction of projects.

Petaling Jaya mayor Mohd Azizi Mohd Zain said that the main reason for the congestion was because of the equipment left behind on the roads by contractors.

 Quarry equipment distributor SCH Group Bhd’s revenue may decline 20% in the current financial year ending Aug 31, 2016 (FY16) due to the property market’s slowdown

“For the genuine developers, house prices will not drop because they set the price where it will give them a reasonable return."