Fate & Potential Problems of Service Apartment

ChuiChuiShui — Thu, 12 Nov 2015 14:46:56 +0800

http://www.thestar.com.my/News/Nation/2015...lic-facilities/

QUOTE

PUTRAJAYA: Service apartment occupants are expected to have access to public facilities like those found in other housing areas.

This is made possible with the formation of two planning guidelines (GPP), namely the Serviced Apartment GPP and Mixed-Use Development GPP, said Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan.

He said at present, the policy on the development of serviced apartments were different at both the state and local authority levels.

He said it was also not subject to the terms and conditions for normal housing development, that is to provide public facilities and having controls on sales prices.

"Usually, buyers are not aware of the high cost of living in a serviced apartment, which has higher utility tariff rates and higher tax rates, because it was built on commercial land," he said in a statement.

He said the matter was decided in the National Physical Planning Council (NPPC) meeting chaired by Prime Minister Datuk Seri Najib Tun Razak on Monday.

Rahman said the NPPC also took note of the proposal to categorise serviced apartment as commercial properties, and not permanent residences.

The minister said the implementation of serviced apartment projects should be reviewed as it had mushroomed and become a lifestyle trend nowadays since it began in 1998.

As of the fourth quarter of 2014, there were a total of 63,689 existing units of serviced apartment in the country, while 83,968 units were under construction, and 71,569 units had their development plans approved.

Among the states with the highest number of serviced apartments are Johor with 78,571 units, followed by Kuala Lumpur (61,489 units), Selangor (56,527), Negri Sembilan (8,426) and Pahang (4,250).

In addition, he said the meeting also discussed the layout planning of the development of Bandar Amanjaya Kedah, the status of implementation of NPCC's Policy, the status of implementation of the Central Forest Spine (CFS) Master Plan for Ecological Linkages in Peninsular Malaysia, and the Malaysian Town Sustainability Report for 2014. - Bernama

May i ask what is "public facilities like those found in other housing areas" which above stated? Is this a good news or bad news?

If SA to become pure commercial, what going to happen to the SA which under HDA(beside utilities rate changes)? Or is this imply that the gov want to abolish HDA?

Mah Sing Wishlist: DIBS

ChuiChuiShui — Fri, 16 Oct 2015 01:53:48 +0800

http://www.thestar.com.my/Business/Busines...DIBS/?style=biz

KUALA LUMPUR: Mah Sing Group Bhd is proposing for the reinstatement of the developer interest bearing scheme (DIBS), but only for first time homebuyers.

In its Budget 2016 wishlist, Mah Sing proposed for the Government to consider bring back DIBS and to review several other issues.

In a statement on Thursday, the company said reinstating DIBS would ease the purchase of homes by genuine homebuyers by allowing them to lock in properties at current prices.

“We laude the Government’s continuous initiatives to encourage home ownership, especially for first time home buyers. We are also aware of the government’s concerns about the affordability of properties.

“Property industry has a larger multiplier effect than other industries. Hence, stimulating the property industry should therefore have a larger impact on the wider economy,” said group managing director Tan Sri Leong Hoy Kum.

Mah Sing also proposed for the Government to consider reviewing the real property gains tax to encourage property investment, easing lending requirements, increasing house grants for youth, upgrading the status of low-cost housing to affordable housing, having a full exemption of stamp duty for purchase of first residential property, and to further reduce personal income tax for the middle income group.

Is Quantity(number of projects) killing Mah Sing? Is DIBS help the slowing market? Or we should stay current situation, which will only attract more genuine buyers(decrease goreng-goreng situation)?

Lets say DIBS comes back, is the loan agreement signed during 2015 can be revise?

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Fate & Potential Problems of Service Apartment

Mah Sing Wishlist: DIBS