“This peer-to-peer lending initiative, regulated by the Securities Commission to be made available to first-time house buyers will provide an alternative funding source for promote purchase of homes.”

Existing investors will have to relook at their investment strategy in terms of exiting or take a long-term view of their properties…

“Speculation must be defined when you buy and sell a property in a certain timeframe. But given the tax now, even if you sell the property 100 years later, you still need to pay the tax. So I think the government is not really sending a right signal,” he told EdgeProp.my.

Mah Sing also welcomed the government’s initiative to set up a national homeownership campaign for completed homes to reduce the property overhang issue in Malaysia.

Real Estate and Housing Developers' Association Malaysia (Rehda) agrees to reduce house prices as much as 10% for houses which are not subject to price control for new projects. This is following SST exemption on construction materials.

The course is expected to start in May next year after approvals from the Education Ministry. The duration of the course is 18 months.

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“As for existing units that have already been built, you will have to wait until this Friday for the Budget announcement,”

A total of 1,046 developers have been named on the National Housing Department’s blacklist. Up till Sept 14 this year, the list showed 169 developers involved in abandoned housing projects; 91 unlicensed developers; 474 developers who failed to pay compounds for breaking the law; and 312 developers who defied the Tribunal for Homebuyers Claims (TTPR)

Affordable housing should be priced between RM150,000 and RM300,000 in Kuala Lumpur and offer at least 800 sq ft and two bedrooms, its honorary secretary-general Chang Kim Loong said.