Saturday, April 13

Tag: property

Ipsos Malaysia Advocates Review of “Outdated and Arbitrary” 30% Housing Affordability Rule
News

Ipsos Malaysia Advocates Review of “Outdated and Arbitrary” 30% Housing Affordability Rule

Ipsos Malaysia is urging Putrajaya to reconsider the existing 30% housing expense-to-income rule, labeling it as "outdated and arbitrary" and emphasising its adverse impact on policy effectiveness. The current standard, deeming a home unaffordable if households spend over 30% of their income on it, lacks alignment with Malaysian household needs, Ipsos Malaysia asserted in a statement. A recent study conducted on Selangor households in collaboration with researchers from Sunway University, Monash University, and Durham University suggests a more accurate threshold at 23.5%. The study reveals that using the new threshold would categorise more households as "house poor." Ipsos Malaysia stated, "The study of households in Selangor has shown that 23.5% is the more accurate expe...
Property market transactions increase to RM85.4 billion in the first half of 2023
Business

Property market transactions increase to RM85.4 billion in the first half of 2023

The value of transactions in Malaysia's real estate market increased by 1.1 percent to RM85.37 billion in the first half of 2023 (1H 2023) from RM84.40 billion in the previous half. However, the amount of transactions indicated a slight decline of 2.1 percent to 184,140 for 1H 2023 from 188,002 in the same period last year, according to Deputy Finance Minister I Datuk Seri Ahmad Maslan. "The residential property segment remained the market's primary driver, accounting for more than 60% of total transaction volume and just under 53 percent of total transaction value. “It was followed by the agriculture sub-sector with a 19.8 percent share in terms of volume, while in terms of value, the commercial property sub-sector was second with 19.6 percent,” he said in his speech at the ...
Singapore is the largest real estate investor in Japan in 2023
Business

Singapore is the largest real estate investor in Japan in 2023

According to Knight Frank LLP, Singapore became the largest investor in Japan's real estate market this year, drawn in by the weak yen and rising demand in the logistics and hospitality sectors. In a report released this month, the city-state has brought in about US$3 billion (RM14 billion) so far in 2023, followed by investors from the US, Canada, and the United Arab Emirates. Christine Li, head of Asia-Pacific research at Knight Frank, said that the purchase of six warehouses in Japan by Singapore's sovereign wealth fund GIC Pte from Blackstone Inc. for US$800 million played a big role in that. GIC Chief Investment Officer Jeffrey Jaensubhakij recently labeled Japan as a "very cheap" market with significant upside potential. International investors are drawn to the country'...
Forbes: Asian millionaires are increasing their hotel investments in Singapore
Business, Lifestyle

Forbes: Asian millionaires are increasing their hotel investments in Singapore

At least ten billionaires, including Pansy Ho of Hong Kong and Sukanto Tanoto of Indonesia, are investing more than S$6 billion (US$4.4 billion or RM20.57 billion) in the development of additional hotels and the expansion of their businesses throughout the city state. According to a report published on Wednesday by Forbes Asia, Singapore's main shopping district, Orchard Road, will house several of the city-state's newest hotels as part of a revitalization plan for the surrounding area. According to the report, UOL Group is already hard at work converting the site of the Faber House building on Orchard Road into a 19-story hotel with 200 rooms for its visitors. And that project started just as UOL opened another hotel a few blocks away. According to Forbes, the Pan Pacific...
Strong interest in real estate in Malaysia but insufficient demand
Business, Finance, Uncategorized

Strong interest in real estate in Malaysia but insufficient demand

According to PropertyGuru Malaysia, interest in buying real estate is still high in Malaysia despite the country's higher cost of living, financial limitations, and affordability. According to country manager Sheldon Fernandez in its Consumer Sentiment Study (CSS) Second Half 2023 (2H2023), approximately 50 percent of those surveyed, particularly the younger and lower-income populations, rely on government assistance to purchase a property. Furthermore, 46 percent of the respondents reported persistent difficulties obtaining financing for affordable housing initiatives, Fernandez added. According to Fernandez, it is crucial to strategically plan and carry out cheap housing programs to accommodate today's lifestyle, particularly in metropolitan regions where there are also ris...