logo
Nga: No property bubble in Johor, market remains steady

Nga: No property bubble in Johor, market remains steady

PUTRAJAYA: There is no property bubble in Johor, Housing and Local Government Minister Nga Kor Ming assured today.
He said Malaysia's housing market had recorded steady growth in recent years and has shown resilience in recovering from the impact of the Covid-19 pandemic, amid speculation of an impending bubble in Johor.
"Malaysia's property sales have shown consistent growth, and there is no sign of a bubble.
"Despite what is being said in Johor, I can assure you that based on our data and analysis, there is nothing akin to the bubbles seen in other countries," he said.
Nga said that total property transactions in Malaysia rose to RM230 billion in 2024, up from RM190 billion in 2023.
He said that the ministry would continue to monitor the market to ensure growth remained sustainable.
"This year, of course, brings its share of uncertainties, but the government is doing everything possible to ensure we navigate these challenges together," he said in his speech at the Real Estate Developer Appreciation Ceremony, held in conjunction with the Fiabci World Prix d'Excellence Awards 2025.
Nga said the achievements of Malaysian developers on the global stage had made the nation proud.
"Your success is a testament to the world-class quality of Malaysia's real estate sector. You have truly made us proud," he said.
Five Malaysian developments were named World Gold winners. They are I-Santorini (Affordable Housing), Nouvelle Industrial Park @ Kota Puteri (Industrial), The Light Collection IV (Residential Low Rise), Iringan Bay Wetland Park (Environment) and TSLAW Tower (Office).
The World Silver winners were Hyatt Centric Kota Kinabalu (Hotel), SkyLuxe on the Park Residences (Residential High Rise), Sentul Works (Office) and Setia Eco Templer - Amantara (Residential Low Rise).
Dubbed the "Oscars of Real Estate", the Fiabci Awards ceremony was held on June 12.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Zambia achieves 92 pct debt restructuring
Zambia achieves 92 pct debt restructuring

The Star

time2 hours ago

  • The Star

Zambia achieves 92 pct debt restructuring

LUSAKA, July 24 (Xinhua) -- The Zambian government announced on Thursday that the country has made significant progress in restructuring its external debt, achieving over 92 percent agreement in principle with its creditors. Secretary to the Treasury Felix Nkulukusa said approximately 12.4 billion U.S. dollars of the country's external debt has been restructured to date. Only 7.8 percent of the external debt remained to be restructured with private creditors, he said during a meeting reviewing the performance of the 2025 budget in the first half of the year, as well as recent economic developments. In 2021, the Zambian government requested to restructure its external debt under the G20 Common Framework, a process established in response to the COVID-19 pandemic. Meanwhile, Nkulukusa said Zambia is expected to outperform its peers due to restored debt sustainability, increased mining production, and effective economic reforms. He added that Zambia is projected to experience a robust rebound with a 6.4 percent economic growth in 2026.

Do Not Politicise, Belittle RM100 SARA Assistance, Great Value For The Poor
Do Not Politicise, Belittle RM100 SARA Assistance, Great Value For The Poor

Barnama

time3 hours ago

  • Barnama

Do Not Politicise, Belittle RM100 SARA Assistance, Great Value For The Poor

BUTTERWORTH, July 24 (Bernama) -- The provision of additional cash assistance of RM100 to Malaysian citizens, aged 18 and above, through the Basic Rahmah Contribution (SARA) programme should not be politicised, but rather seen as a form of concern for the poor. Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri said downplaying the value of the RM100 assistance was like belittling the poor in this country because it had a great impact on the daily lives of the less fortunate. "If he is a rich man, T20, he would indeed look down on RM100, but does he know how many people in this country are in the B40 group…how much RM100 is to them and for rich people, he doesn't understand whether RM100 is a big deal or not. "Do they know how many kilogrammes of rice RM100 can buy, how many chickens it can buy? So, if the (government) initiative is good, we have to say it is good, if it is not good, we have to say it is not good, not to belittle it,' he told reporters after attending the PENN 2.0 Special Fund Financing Briefing and Presentation Ceremony here tonight. Explaining further, Ramanan said all parties should show empathy and understand the reality of the lives of low-income groups, especially in challenging economic conditions. Anwar, who is also the Finance Minister, yesterday announced several major initiatives as a sign of appreciation from the MADANI Government to the people, including the one-off RM100 grant under the SARA programme, the delay in toll hikes for 10 highways, and the lower RON95 petrol price subsidy at RM1.99 per litre. Meanwhile, Ramanan also said the MADANI Government no longer relies on a single agency such as the Malaysian Indian Community Transformation Unit (MITRA) in addressing the issues of the Indian community, but has instead introduced various high-impact programmes including financing and entrepreneurship development. According to him, the government is now implementing a more comprehensive approach involving various agencies such as the National Entrepreneurial Group Economic Fund (TEKUN), Bank Rakyat, SME Bank and Amanah Ikhtiar Malaysia (AIM) specifically to empower Indians. '(It is) increasing the Prosperity Empowerment and A New Normal for Indian Women (PENN) fund from RM50 million to RM100 million, in addition to an additional RM50 million fund for the BRIEF-i programme, the Indian Community Entrepreneur Development Scheme (SPUMI) and introducing Vanigham Financing for Indian Entrepreneurs with financing of RM50 million,' he said.

Ministry to monitor IC misuse after RON95 price adjustment
Ministry to monitor IC misuse after RON95 price adjustment

New Straits Times

time4 hours ago

  • New Straits Times

Ministry to monitor IC misuse after RON95 price adjustment

SETIA ALAM: The Domestic Trade and Cost of Living Ministry will issue reminders to petrol stations to prevent the misuse of Malaysian identity cards for the upcoming RON95 fuel price adjustment. Deputy Minister Datuk Dr Fuziah Salleh said the ministry will intensify monitoring efforts to prevent leakages and misuse by foreign-registered vehicles using Malaysian ICs. "Previously, petrol stations were prohibited from selling RON95 to vehicles with foreign registration plates. "If local ICs are used (after the fuel price adjustment), we will remind petrol station operators to stay vigilant, and we may need to monitor closely to ensure these ICs are not misused repeatedly," she said at the closing ceremony of the TikTok Shop Summit today. Yesterday, Prime Minister Datuk Seri Anwar Ibrahim announced several key initiatives as a gesture of appreciation from the government to the people. Among these initiatives are a one-off RM100 cash aid under the Sumbangan Asas Rahmah (Sara) programme, the postponement of toll rate hikes for 10 highways, and a lower subsidised RON95 petrol price at RM1.99 per litre. On June 16, Anwar said the government would proceed with the RON95 fuel subsidy rationalisation, as it is crucial for the country. Anwar, who is also the finance minister, said there was no issue of a RON95 price increase affecting the majority of Malaysians. On June 26, Finance Minister II Datuk Seri Amir Hamzah Azizan said the government would move ahead with its plan to implement targeted subsidies for RON95 petrol this year. However, the rollout would be done in phases to ensure the most effective and least disruptive mechanism is adopted.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store