{"id":30659,"date":"2016-10-19T12:36:44","date_gmt":"2016-10-19T05:36:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysian-developers-are-accused-of-manipulating-home-price-inflation\/"},"modified":"2016-10-19T12:41:26","modified_gmt":"2016-10-19T05:41:26","slug":"malaysian-developers-are-accused-of-manipulating-home-price-inflation","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysian-developers-are-accused-of-manipulating-home-price-inflation\/","title":{"rendered":"Malaysian developers are accused of manipulating home price inflation"},"content":{"rendered":"


\nTime for government to step in?
\nRoad junction at Suria KLCC with Petronas Twin Towers. MEzairi \/ Shutterstock.com
\nPrice increases among Malaysian homes may not be really organic and are prone to manipulation by real estate developers, experts contended in response to an exhaustive report released yesterday by Malay Mail.
\nChang Kim Loong, secretary-general of the National Home Buyers Association (NHBA), called on the federal government to impose stronger regulatory measures on certain forms of property speculation. \u201cToday, developers continue to artificially increase price of new launches and then give rebates set off against the downpayment,\u201d he told the Mail.
\nThis scheme enables speculators to buy Malaysian properties by bulk, leading to an increase in prices, the NHBA reported. Developers allegedly mark up price points to reflect the required downpayment that will then be offset with rebates. \u201cThis again artificially increase house prices and encourages false demand as no downpayment is actually paid,\u201d Chang said.
\nMore: Malaysia leads Southeast Asian house price growth, per Knight Frank
\nThe Malaysian government\u2019s lending policy, loosened after the global financial crisis of 2008, may have also played a part in encouraging such bulk purchases. \u201cI think there is a need to see if there was a correlation between the quantitative easing measures\u2026 and house price increase in 2008,\u201d said Liew Chin Tong, DAP federal lawmaker for Kluang. \u201cWe must learn from it to avoid it in the future.\u201d
\nIn addition to the dubious practice of rebates, Chang cited the Developers Interest Bearing Scheme and the relaxation of the real property gains tax as possible factors for housing price inflation in recent years.
\nMalaysian authorities banned the Developer Interest Bearing Scheme earlier this year.
\nRead next: Will Malaysia\u2019s developer lending scheme sink or save the market?
\n
\nSource : property-report.com
\nRead more…Malaysian developers are accused of manipulating home price inflation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Time for government to step in? Road junction at Suria KLCC with Petronas Twin Towers....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-30659","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7Yv","jetpack-related-posts":[{"id":35628,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysian-developers-turn-to-foreign-investors\/","url_meta":{"origin":30659,"position":0},"title":"Malaysian developers turn to foreign investors","date":"November 24, 2016","format":false,"excerpt":"\r The big woo-athon for overseas buyers begins A weak ringgit, growing oversupply and slow local sales saw developers courting foreign buyers, sending their agents to road shows abroad to promote their projects. 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