The property sector in Malaysia is set to weather the impact of a flat 4% stamp duty on memorandum of transfer (MOT) for non-citizens and foreign-owned companies in property transactions, thanks to several factors, according to MIDF Research. The research house has maintained its positive stance on the sector, citing expectations of a stable benchmark overnight policy rate for the year as a driver for...

The Ministry of Local Government Development has pledged to take decisive action against property owners who rent out cramped and hazardous living spaces. Minister Nga Kor Ming stated that, initially, warnings would be issued to owners who violated regulations by renovating their properties without local authority approval. The rented premises in question pose serious risks to tenants, including fire...

Genting Highlands is poised to become home to the largest Hard Rock Hotel in Asia, with the opening of Hard Rock Genting Highlands scheduled for 2027. This exciting development is part of the King's Park integrated mixed-use development, spanning 150 acres (60.7 hectares) in Genting Highlands. Hard Rock Genting Highlands is a 45-storey hotel that will feature 371 rooms and 630 suites, bringing the total...

As Malaysia unveils its Budget 2024, key figures in the property market have expressed their thoughts. While appreciating the government's initiatives, several areas in the property sector, including affordable housing supply, property financing, and rental market regulations, were left unaddressed. Industry leaders emphasize the importance of these aspects for a comprehensive development plan. Tan Kian...

Prime Minister Datuk Seri Anwar Ibrahim's Budget 2024 announcement showcased substantial infrastructure allocations. One standout is the Penang Light Rail Transit (LRT) system, projected to cost RM10 billion, which will be developed in partnership with the private sector. Additionally, RM4.7 billion has been earmarked for the resurrection of five LRT3 stations, strengthening the Klang Valley's public...

In the recently revealed Budget 2024 Madani, themed "Madani Economy: Empowering the People," the Malaysian government has earmarked a total of RM393.8 billion. This reflects a modest increase from the previous budget of RM388.1 billion, set in February 2023. One key highlight is the government's strong commitment to driving the New Industrial Master Plan 2030 (NIMP), with up to 10% of the total NIMP...

I-Bhd, a prominent property developer, has unveiled a strategic partnership with Wyndham Hotels & Resorts to manage the upscale property, Wyndham Suites KLCC, situated in the heart of Kuala Lumpur city center. Wyndham Suites KLCC, an existing luxury condominium property, holds a gross development value (GDV) of RM820 million. This collaboration marks a significant milestone for I-Bhd, as it enhances...

The Real Estate and Housing Developers’ Association (REHDA) Malaysia has expressed its hope that the Malaysian government will reintroduce or introduce housing incentives to enhance homeownership opportunities for Malaysians. In its wish list for Budget 2024, REHDA emphasized the ongoing issue of housing affordability for both the public and the industry. REHDA called on the government to incorporate...

In a thrilling competition at The Curve Damansara on the weekend of October 8th, the winner of the inaugural PropNex Monopoly Championship, Leonard Lai, walked away with a substantial prize of RM28,888 in real cash and a VanillaCrepe franchise valued at RM130,000. PropNex Malaysia, the real estate agency that organized the event, described the championship as a resounding success, providing an engaging...

Owning a rental property can be a lucrative investment, but finding reliable and responsible tenants is crucial to ensure long-term success. Five-star tenants are those who pay rent on time, take care of the property, and maintain a harmonious relationship with the landlord. While it’s true that investing heavily in your property can make it stand out, it's essential to balance your budget to ensure a...