House prices to be controlled ‘if necessary’ - TAX

House prices to be controlled ‘if necessary’ - StarProperty.my

PETALING JAYA: The Government is monitoring the spike in house prices and will not hesitate to implement measures to keep them under control, said Housing and Local Government Minister Datuk Chor Chee Heung.


“Our ministry and Bank Negara are constantly monitoring the situation.

“Of course, if it goes beyond a certain point where measures have to be instituted by the Government, then the Government will do it.

“But it may be premature to do it now. Various measures can be implemented like what has been put in place by other countries.
“These include not offering loans for the purchase of a third or fourth house or bringing back the real property gains tax (RPGT),” he said yesterday.

70% Loan To Value (LTV) Ratio

Few months ago, Malaysia government implement a LTV ratio of 70% for purchase of third properties and onward. Some confusion arise due to this new rules, for example:ase

1. If I have joint name with my wife for first two properties, does it means I only can loan 70% max for third property?
2. If my first or second property loan is fully settled, do I limit by the 70% loan rules?
3. If I have sold my first or second property, S&P signed but transaction still in progress, am I limit by the 70% loan rules?

Just have a chat with a property agent today, according to him, LTV rules is calculated based on number of property loan you are serving currently, NOT number of S&P you have your name on it. If his explanation is correct, it means, answer to three question above are:

1. Yes
2. No
3. Not really sure, probably no, as you may show your S&P to the bank when apply for loan.

Please share if you have more information about this new rules ....

LRT and monorail stations to be linked

LRT and monorail stations to be linked

Sometimes I wonder what kind of quality a Leader should have? I suppose a Leader should be someone who have vision, foresee what going to happen in near future and able to plan ahead. But why can't our Leader just plan ahead? Built 3 separate system that don't talk (link) to each other, and after so many year, now only they start talking (link). Is it really so difficult to stop for few minutes and thought about this before they start implement project, initially???