Property developers in Malaysia remain confident about the health of the country’s real estate market, despite the implementation of further cooling measures by the central bank.
Under the terms of the new rules, home buyers who have signed up for two mortgages and intend to apply for a third loan are required to finance only 70 per cent of the home value.
An article by Property Report has stated that several developers have found that the measures have had little or no impact on sales levels, those looking to buy real estate in Malaysia may be interested to learn.
Yeo Kong Meng, personal assistant of principal at The Haven Sdn Bhd, confirmed to the news provider that the new rules have not affected sales so far.
“60-70 per cent of our customers are home buyers, while 30 per cent buy property for investment. Many of our house buyers have high disposable incomes so paying a higher deposit for their new property is not an issue,” he explained.
Extracted From: http://www.propertyshowroom.com