Swhengtee Property talk to be held on Feb 28,2009 at PWTC Kuala Lumpur

Gavin's the Swhengtee Property Talk (Mandarin) will be held on Feb 28,2009 ( saturday ) at 200pm, kuala Lumpur. contact 0162020001 for more details
Ticket : TBC

No Discounts for Rich Bumis

THE Housing and Local Government Ministry is discussing a proposal to scrap discounts for bumiputras who buy luxury property valued at RM500,000 and above.

Its minister Datuk Seri Ong Ka Chuan said the ministry was negotiating with state governments and a mutual agreement on the proposal, initiated by the Real Estate and Housing Developers’ Association (Rehda), had yet to be reached.

“We are discussing the discounts to be given to those who need the discounts and not to those who don’t deserve it,” he said in reply to Dr Mohd Puad Zarkashi (BN – Batu Pahat).
Ong said the ministry was also talking to state governments to expedite the process of releasing unsold bumiputra quota units to the open market.

He said the quota was imposed to provide a chance for bumiputras to own property and the mechanism was also set up to allow the unsold quota units to be released and sold in the open market to others if there was no demand from bumiputras.

However, the process of releasing the unsold units could take up to five years, he said, adding that this had become a burden to developers. ( November 25, 2008(The Star)

kuala Lumpur in the Forbes Top 10 List of Emerging Markets

Forbes recently released a list of top emerging world real estate markets that is based on in depth studies. By looking at inflation rates, access to lending opportunities, economic expansion and strength of individual property rights they were able to filter out promising markets worldwide.
Despite the worldwide softening of certain markets, due to drying up of credit funds, Forbes has found some promising locations that are poised to explode within the next 5 years.

High on the list is a city that might come as a huge surprise to some. Tel Aviv while having struggled in the late 90s and early 2000s has seen a recent climb in prices. Predictors expect this to rise further due to a great economic year in 2007.

Kuala Lumpur is another hot runner for expansive growth. With low inflation, a strong global trade and strong property prices, local builders are finding it hard to keep up with the current demand. As news of this spreads, this will unlikely change fast.

Purposely discounting developing markets because of their often high volatility, countries such as the Baltic states Estonia and Latvia were scraped off the list. While enjoying great growth in 2006 in both of these countries, depreciation of property went down by 7% and 14 % respectively last year.

Emerging countries were defined as those who are in transition from developing to advanced such as Brazil, Russia, China (often referred to as BRIC) and India.

One strong factor that was considered was the fact that unless there was satisfying loan access for investors, the country got eliminated. The market simply breaks down if people can’t find lenders and those few who can afford to pay cash are not enough to keep the market strong.
Perhaps the biggest surprise are the following four destinations. Chile, Jordan, Aman and Santiago.
While inflation hasn’t been out of context with growth, the real estate market is providing greater value because of economic expansion.

While these last four markets aren’t set to explode within the next 12 month, they are predicted to do very well within the next 5 years.

This provides a perfect investment planning opportunity for investors who crave new opportunities.

source : OP-Mall in Prediction

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