Nearly 2,700 Putrajaya Homeowners To Receive Assessment Tax Discount; Selangor To Be More Inclusive For People With Disability, To Adopt A Universal Design And, More
7th March – 13th March
Nearly 2,700 residential property owners in Putrajaya will enjoy discounts on assessment tax from July.
Meanwhile, the Selangor government aims to make the state more inclusive for people with disabilities by standardising the guidelines for future developments.
1. Nearly 2,700 Putrajaya homeowners to receive assessment tax discount
Nearly 2,700 residential property owners in Putrajaya will enjoy discounts on assessment tax from July.
This comes after Prime Minister Datuk Seri Anwar Ibrahim has agreed to reduce the assessment tax for strata home owners, other than affordable homes, by 5% and by 20% for terrace home owners in Putrajaya, reported Malay Mail.
Anwar stated that he took note of the complaints of non-affordable home owners in Putrajaya that the assessment tax on their properties was higher compared to those in surrounding areas.
“The reduction of this assessment tax is given to houses which were completed after 2017, where rebates will be given on the total assessment tax imposed,” he said, adding that the discount will be implemented from 1 July until the next valuation by Perbadanan Putrajaya.
Anwar pointed that the reduction was in line with the Malaysia Madani aspirations to alleviate the cost-of-living burden, particularly among the M40 or mid-income group.
2. Selangor to be more inclusive for people with disability, to adopt a universal design
The Selangor government aims to make the state more inclusive for people with disabilities by standardising the guidelines for future developments.
This includes adopting a universal design for all local authorities, reported The Star.
Selangor Deputy Secretary for Development Datuk Johary Anuar noted that Petaling Jaya City Council (MBPJ) has more advanced guidelines compared to other local authorities.
“We will bring these guidelines to the state planning committee for it to be endorsed,” he said.
The Selangor Action Council for the Disabled (MTOS) has also engaged with academics to promote awareness programmes.
With Selangor set to become a ‘super-age’ state by 2025, when 20% of the citizens are over 60 years old, the state is also ensuring that renovations and upgrades are being done to cater to the needs of the elderly.
“Architects, engineers and building contractors must be well prepared,” said State Public Health, Unity, Women Empowerment and Family Committee Chairman Dr Siti Mariah Mahmud.
“Contractors should abide by the guidelines and hopefully, it will be a norm in our future developments,” she added.
3. BNM keeps OPR unchanged at 2.75%
Bank Negara Malaysia (BNM) has kept the overnight policy rate (OPR) at 2.75%, following positive developments in the global economy as well as Malaysia’s strong economic growth of 8.7% in 2022.
The central bank’s Monetary Policy Committee (MPC), however, noted that the global economy is still being weighed down by costs and interest rate pressures, while the domestic economy is expected to moderate this year.
With this, the MPC would “continue to assess the impact of the cumulative OPR adjustments, given the lag effects of monetary policy on the economy”, reported Bernama.
It would also remain vigilant to cost factors and financial market developments which could affect inflation outlook.
Further normalisation of monetary policy will be guided by the evolving conditions as well as their implications on domestic inflation and growth outlook.
4. Sale of Rumah Selangorku homes based on loan approval, no cronyism involved
State Housing, Urban Wellbeing and Entrepreneur Development Committee chairman Rodziah Ismail has dismissed claims of cronyism in the sale of housing units under the Rumah Selangorku scheme.
She explained that the purchase of homes is based on loan approvals. As such, names of buyers whose loans have been rejected were taken out of the waiting list, reported Bernama.
Moreover, the application for homes is conducted online via a special system that is monitored by the Selangor Housing and Property Board (LPHS).
“We also have an internal audit that will monitor how LPHS approved the purchase of the house,” said Rodziah.
She revealed that almost 1,500 affordable homes and office units, priced at RM230,000 and above, were available in the state under the Bumiputera quota.
Rodziah added that the state had also restored seven housing projects which have been abandoned since 1993.
5. Penang has 12,000ha of industrial land
Penang Chief Minister Chow Kon Yeow revealed that the state has almost 12,000ha of industrial land, of which about 95% are on mainland Seberang Perai.
The other 5% (537.2ha) are located on Penang island, with 496.6ha in the southwest district and 40.6ha in the northeast district, reported Free Malaysia Today.
To increase its industrial land bank, the state intends to reclaim three islands for the Penang South Islands (PSI) project and develop two industrial parks within Batu Kawan.
The Penang government believes reclamation is necessary due to the lack of industrial land spanning 4ha and above in Seberang Perai.
State Executive Councillor Zairil Khir Johari explained that most manufacturing plants required bigger plots of land – measuring between 8.1ha and 12.1ha, and sometimes even double the size.
With this, some investment opportunities had been turned away by the state due to the lack of bigger-sized land.
6. Government open to reviving HSR project, but using private funds
Transport minister Loke Siew Fook said the unity government is willing to revive the Kuala Lumpur-Singapore high-speed rail (HSR) project, provided it is funded by the private sector and not the government.
He revealed that Prime Minister Anwar Ibrahim has given instructions to discuss the matter and that they are open to proposals from the private sector, reported Free Malaysia Today.
“The prime minister has said that we are open to any proposals, as long as they are private investments. As such, there is no decision yet on reviving the HSR, but we are not stopping it,” said Loke.
Last month, Singapore said it is ready to look at “any proposal” that Malaysia may have on the project.
Malaysia and Singapore signed a bilateral agreement to develop the 350km rail project in 2016. However, such agreement was terminated by the previous government in 2021, which saw Malaysia paying RM320 million in compensation to Singapore.
The project, which was supposed to be completed in 2026, was expected to slash travel time between Kuala Lumpur and Singapore to just 90 minutes.
7. Developers focus on selling existing stock before launching new projects
Developers have been getting rid of their old stock, offering completed housing units at their original prices at Johor Mapex 2023.
Real Estate and Housing Developers Association (REHDA) Johor Chairman Wong Boon Lang said buyers with approved housing loans can immediately move into the homes since they are ready for occupation, reported The Star.
Themed “Rising to the Challenge”, the Malaysia Property Expo 2023 (Johor Mapex 2023) featured 45 booths and was participated by 25 developers and two banks.
Developers offered 5,755 residential and commercial units worth RM3.70 billion.
Wong noted that while developers are optimistic on the property market’s outlook, their main focus is to sell their existing stock.
He added that developers would only consider launching new projects in the second half of 2023, depending on the economic situation.
