BTS

New government, new hope for Malaysian property market?

Pakatan Harapan’s policies and programmes as outlined in The People’s Manifesto provide great anticipation for homebuyers, developers and investors alike. If done right, these strategies will go a long way in curbing the housing affordability conundrum.  The 14th Malaysian General Elections (GE14) on 9th May 2018 will go down in history as one of the most memorable days for millions of locals nationwide. The majority voted in favour of the opposition alliance to serve as the country’s new government – the Pakatan Harapan (PH) coalition trumped Barisan National (BN), which has been in power for 6 decades. We are all excited to see how PH will bring forth positive change; the new government has promised a reformation of Malaysia’s administration and politics as well as sustainable growth and...Read More

Malaysia Budget 2016 – Part 2

National House Buyers Association (HBA) president, Chang Kim Loong, raises more concerns and issues pertaining property, some which were not taken up in 2016 year’s budget. Pleased by the fact that the government has looked into curbing measures which it implemented in the 2014 budget like increase in RPGT (Exit Costs), LTV and prohibition of DIBS, Chang says: “These have achieved its objectives in partially deterring speculators and ‘bogus’ house buyers. It has also brought some sense of orderliness to the housing arena. “However, HBA have appealed to the government to adopt further measures to be implemented in Budget 2016.” These are outlined below.   A) Increase in entry cost for owners of multiple properties Chang revealed that the association has requested that the government in...Read More

HBA wants the BTS model for affordable houses

SHOULDN’T buyers of affordable houses be given more protection? Do they have lawyers to advise them? And act for them in court against dishonest developers? Are they expected to spend a lot of money pursuing their interests and entitlement? Even the reasonably well-off suffer because of the lopsided sale & purchase agreement (SPA) provided by the Housing Ministry and exploited by developers. HBA’s long campaign against the sell-then-build (STB) system should be vindicated in the case of buyers of affordable houses. The buyers of affordable houses are people of modest means, and deserve to be protected. BTS 10:90 vs STB The current STB system has caused abandonment and, worst, foreclosure of the purchaser’s property by the developer’s banks. The STB is the developer’s dream as it allows...Read More

HBA proposals for Budget 2016

THE National House Buyers Association (HBA) was invited to attend the annual Budget Consultation last Monday at PutraJaya International Convention Centre (PICC). This year’s theme was “Strengthening Growth, Enhancing Inclusiveness, Ensuring Fiscal Sustainability”. Although HBA has submitted our proposals to the secretary-general of the Federal Treasury for next year’s budget to enable our Government to consider them from the house buyers’ perspective, we thought it necessary to bring this up at the public forum. Having accorded the usual salutation to our Prime Minister who is also the Finance Minister, we begin to describe Budget 2014 and 2015 vis-à-vis housing as an ‘excellent mathematical formula’ to curb the unbridled escalation of house prices, which has in the last five years skyrock...Read More