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Tag: Affordable housing

  • 170,000 Penang homes cannot be sold for 10 years

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    by

    Charles Tan
    in

    Still remember one latest measure by the Penang state government to ensure the price of properties remain affordable but only for the deserved? Latest news is that 170,000 of Penang homes are affected by this moratorium. This is from a list of 1,182 stratified projects on the island which are considered low cost and low-medium…

  • New rules to contain potential property bubble in Penang

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    by

    Charles Tan
    in

    The new housing rules caught a lot by surprise. Perhaps even politically motivated. You can also say it stops genuine buyers from selling their home but if you are genuine buyers, why would you buy a medium cost house and try to sell it within 5 years? You suddenly become too rich and needed to…

  • 3% Levy on Penang Property

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    by

    Charles Tan
    in

    Personally, I agree to the additional 3% levy. The additional levy would allow the state government to have additional income and may use the surplus for affordable properties in Penang. It is not an easy task to build affordable properties. Land prices has shot up tremendously for many years and in the word of Dato…