A developer is not supposed to arbitrarily impose an exorbitant administrative fee and benefit itself for its own neglect in applying for the strata title. As one of the conditions for giving their consent to assign, developers usually impose an administrative fee of 1% on the purchase price or on the value of the transaction (e.g. loan amount) which must be paid in order to obtain their consent....
by Cheang KS The real estate industry players have high hope that the Premium Visa Programme (PVIP) will attract wealthy overseas investors to Malaysia and assist the local property business. Unlike the Malaysia My Second Home programme (MM2H), the PVIP provides for a 20-year stay and allows members to study, acquire properties for residential, commercial or industrial purposes, and make active investments in...
by Cheang KS What’s going on here? Bank Negara (BNM) has raised the overnight policy rate (OPR) for the third consecutive time by 25 basis points to 2.5%, in line with expectations for further normalisation of monetary policy as the country’s economic growth and inflation gain momentum. What does this mean? With positive growth prospects for the country’s economy remaining intact, the Monetary Policy...
by Cheang KS