Reducing the moratorium period for the resale of 1Malaysia People’s Housing (PR1MA) homes will discourage buyers from holding their units, which is not in line with the programme’s objective.
“PR1MA homes should be for long-term investment. Five years is a very short period. From the day you buy, technically if construction is taking place as well, it may take three years and you are actually using the place for only two years,” said CBRE-WTW managing director Foo Gee Jen.
“This to me is not healthy. I think the PR1MA home concept, end of the day, is about encouraging people to hold it longer, not to speculate,” he told reporters at the 2017 Asia Pacific Real Estate Market Outlook briefing yesterday.Read more...
Source: The Sun / Section: Business / Date: 19 Jan 2017Photo credit