The Real Estate and Housing Developers’ Association Malaysia (Rehda) is hopeful that the property industry will continue to flourish and the government to look into the matter of homeownership and affordability.

Inflation and a higher cost of doing business are likely to push property prices up by double-digit this year, Rehda president Datuk NK Tong has cautioned.

About 94% of developers polled by the Real Estate and Housing Developers’ Association Malaysia (Rehda) said they continued to face end-financing issues for buyers in the second half of 2022 (2H2022).

Rehda said that the fee is exorbitant for businesses, as a high number of workers is utilised in a single project that adds up to a hefty sum that may not be financially viable.

Rehda Institute — the research, education and training arm of the Real Estate and Housing Developers’ Association (Rehda) — is seeking ways to mitigate high compliance costs as discussed at a roundtable session titled Rehda Institute Housing Forward Roundtable: Cost of Doing Business 2023 on Thursday (Jan 12).

The new laws, which came into force on June 1, 2015, tightened the process of the segregation of the master title by the developer.

“We strongly support the calls made by other professional bodies to maintain the foreign worker management system under the Ministry of Human Resources as it will not only minimise bureaucratic red tape but also streamline the process within one ministry.”

Nga Kor Ming, who started duty helming the Local Government Development Ministry (KPKT) less than two weeks ago, is expected to hit the ground running in tackling the housing woes and affordability issues faced by the rakyat.

Accurate and up-to-date data is key to making deft decisions when it comes to property investments, be it for buyers or developers. Hence, prudent investors spend tons of time and effort in scouring an array of avenues to get a comprehensive hold of facts and figures before signing on any commitments.  

Real Estate and Housing Developers’ Association Malaysia (Rehda) has expressed its “wish” that the government under newly appointed 10th Prime Minister Datuk Seri Anwar Ibrahim take measures to tackle the many issues afflicting the property and construction industry.