{"id":9252,"date":"2016-03-26T03:00:06","date_gmt":"2016-03-25T20:00:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/whats-causing-home-prices-in-malaysia-to-rise\/"},"modified":"2016-03-28T08:39:01","modified_gmt":"2016-03-28T01:39:01","slug":"whats-causing-home-prices-in-malaysia-to-rise","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/whats-causing-home-prices-in-malaysia-to-rise\/","title":{"rendered":"What\u2019s causing home prices in Malaysia to rise?"},"content":{"rendered":"


\nBye-bye, DIBS
\nImage taken from Wikimedia Commons
\nMalaysian authorities have recently banned the Developer Interest Bearing Scheme (DIBS) because it made residential prices more expensive.
\nAccording to Bank Negara Malaysia (BNM) Deputy Governor Dr Sukhdave Singh, DIBS has\u00a0helped home builders to sell houses.
\nUnder the scheme, home buyers need only to pay 10 percent of a property\u2019s value upfront, while 90 percent of the price would be repaid after the unit\u2019s completion. The developer shoulders most of the funding during the construction period.
\nHowever, DIBS made properties more unaffordable as it encouraged speculation, or reselling the home to another party for a quick profit even before it was ready, Xhe said in a report by The Malay Mail Online.
\n\u201cWhat happens at the end of the day is that the property becomes 20 to 30 more expensive,\u201d he said during his keynote speech to the Malaysian Economic Association.
\nIn addition, it spurred home buyers to obtain more credit, which was not sustainable in the long-term, Sukhdave explained, adding that these were the key reasons why DIBS was prohibited by the government.
\nMeanwhile, he highlighted that real estate prices in the country had softened due to the prevailing weakness in the economy and the oversupply of commercial spaces in major cities and towns.
\nThe federal government also reported that property investments in Malaysia had plunged by 70 percent.
\nThis story was originally published on PropertyGuru.com.my on 25 March 2016.
\n
\nSource : property-report.com
\nRead more…What\u2019s causing home prices in Malaysia to rise?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bye-bye, DIBS Image taken from Wikimedia Commons Malaysian authorities have recently banned the Developer Interest...<\/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-9252","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\/p75ss1-2pe","jetpack-related-posts":[{"id":60690,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/locals-get-first-dibs-the-manchester-flats-banning-foreign-investors\/","url_meta":{"origin":9252,"position":0},"title":"'Locals get first dibs': the Manchester flats banning foreign investors","date":"July 14, 2017","format":false,"excerpt":"\r Dubbed \u2018Manchester homes for Manchester people\u2019, the new Crusader Mill development is bucking the trend for apartments to be sold overseas, and is instead offering them to locals first. 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