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News Updates & Article sharing

Stay Tune... Is DIBS to make come back?

3/13/2016

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Is this the good news that everyone waiting for? DIBS to make a comeback? There could be a chance that DIBS is making a comeback according to REHDA.

DIBS to make comeback?


Refer from Starproperty.my
BY THEAN LEE CHENG

​PETALING JAYA: The Real Estate and Housing Developers Association (Rehda) is in discussion with the Government to bring back the developers interest bearing scheme (DIBS) in a certain form for first-time house buyers of a certain price, Datuk Soam Heng Choon said at a property forum.
Soam, who is also IJM Corp Bhd CEO and managing director, told participants this while moderating a forum session at the Rehda Property Forum 2016 yesterday.
“We are engaging with the Government on this,” he said.
The scheme, which allows a house buyer to pay a downpayment of between 5% and 10%, and the rest on completion of the property was banned on Jan 1, 2014 because it was deemed to encourage speculation.
It was the first cooling measure to be banned in Singapore in its fight against rising house prices.
While the removal of the scheme and macro-prudential measures weeded out speculation, it came at the expense of plummeting sales.
Earlier, Rehda president  said a survey conducted among 159 developers in 12 states in the second half of 2015 showed that properties between RM250,000 and RM700,000 had the highest loan rejection rate.
He said 67% respondents believe end-financing was the culprit for unsold units.
He said unsold stock would rise and will also affect affordable housing. “Loan rejections rate is more than 50%,” he said.
Unsold units for the first half of 2015 was manageable with 68% of respondents having up to 30% of unsold units. Residential sales rose by a fifth in the second half compared with the first six months, although launches slowed.
Respondents with unsold units mainly in Selangor, Johor and Pahang decreased from 78% in the first half to 62% in the second half of 2015. Respondents were also pessimistic about the first half of 2016.
​
Soam said stringent lending conditions will come at the cost of high home ownership. Although Malaysia has a high household debt against gross domestic product of close to 90%, the highest in South-East Asia, on closer scrutiny, only 50% of this debt were mortgage-related while in Singapore and the US, mortgage debt make up 74% of their household debts. There is therefore room for mortgage debt to go up.
“Curtail unproductive loans,” he said.
Two of the forum panel speakers Maybank Malaysia head of community financial services Hamirullah Boorhan and Khazanah Research Institute managing director Datuk Charon Wardini, however, said home ownership should not be achieved at the expense of high household debt.
Instead, one of the ways, Charon said, was to modernise and cut house prices by building housing cheaper and faster using Industrial Building Systems (IBS), a housing construction technique used by the Chinese and a company in the Philippines.
“If Philippines can do it, why can’t we?” he asked. Charon also said social housing – or affordable housing – at RM500,000 were “not affordable to many.”
“It should (be capped) at RM300,000,” he said. Charon said in order to put the housing sector into its proper perspective of demand and supply, what is needed is a national housing survey.
“You cannot talk about the Malaysian housing market per se but you can talk about the Kuala Lumpur housing market, or the Johor or Penang market,” Charon said.
It has to be very location-based because the median household in Kuala Lumpur is much higher comparative to some locations outside the Klang Valley, he said.

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  • Home
  • New Property Launch
    • Sepang Freehold Individual Title AI Cluster & Semi D Warehouse Factory
    • Lakeside Freehold Fully Residential Private Lifestyle Condominium in Cyberjaya
    • Spacious 2024 Completion KL Condo Fully Residential KLCC View
    • RUMAWIP Bukit Jalil (Bumi Only)
    • Lake City @ KL North NEW PHASE FROM RM380k
    • Alora Residences – Inspired living within greenery in Subang Jaya
    • PJ Spacious and Affordable 5 Star Condo
    • Bangsar South 2 Rooms from RM390k BELOW Market Price
    • 10% ROI PJ Project near Ikea and One Utama Mall
    • Project Announcement Registration. Malaysia New Property Launch
  • Existing & Past Project
    • Best Investment 2022 PJ Damansara Low Risk Low Entry Price High ROI
    • 2022 PJ Rumah Mampu Milik RM270k Damansara
    • Mid Valley Seputeh New Launch
    • Pavilion Damansara Heights 柏威年 白沙罗岭 马来西亚 吉隆坡 精选楼盘
    • 马来西亚RM300千的PJ屋子-首购族,年轻人月入3千能买房
    • 2021 Penang Most Awaited Project
    • 2021 New Launch - KL Metropolis
    • Freehold LRT Linked 3 Room Suites in Glenmarie
    • New SPACIOUS Kepong Landed 6 Room 6 Bath
    • Bangsar Last Piece Land New Launch
    • Avara Seputeh (Mid Valley)
    • 2020 Lowest Risk & Price in Klang Valley with Great ROI
    • Kiara East Suite Dex
    • 2019 SAFEST PROFITABLE HIGH CASHBACK INVESTMENT
    • Best Property Investment Projects in 2018
    • KL City Freehold Spacious Affordable 3 room Project
    • Jalan Kuching Freehold New Office & Shoplot
    • Jalan Ipoh New Freehold Shoplot & Offices
    • RM300k KL Sentral New Prelaunch
    • The Olive Condo, Sunsuria City
    • Prelaunch Landed House Bukit Rahman Putra
    • RM260k No Downpayment Puchong South Suites
    • PJ North RM400k High Cash Back Project
    • Denai Sutera @ Alam Sutera, Bukit Jalil
    • First Phase of Banting New Township
    • Neu Suites 3rdNVenue @ Embassy Row by Titijaya & CREC
    • COURT 28, Jalan Ipoh KL City New Property Launch Service Apartment. Malaysia New Property Launch
    • Semanja Kajang New FREEHOLD Kajang Double Storey Houses. Malaysia New Property Launch
    • M Suite @ Desa Park North
    • BIJI LIVING @ Sek 17 PJ City by Conlay. Malaysia New Property Launch
    • Amani Residence Bandar Puteri Puchong New Freehold Service Apartment. Malaysia New Property Launch
    • SFERA RESIDENCY @ Puchong South. Malaysia New Property Launch
    • KL North Last Release
    • PreLaunch Freehold Double Storey
  • LAND
  • News & Articles
    • Educational Articles
    • Ho Chin Soon Greater KL Map Sharing
  • Other Reference Link & Services
    • Land Sale Malaysia
    • Other Professional Services
  • Referral
  • Career
  • MPIG
    • About Us
    • Contact Us
  • Get Professional Advice
  • PJ八打灵全新地产项目分析手册
  • Privacy Policy