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Thread: Pre-launch property sales, investor clubs in M'sia could come under scrutiny

  1. #1
    Blue blood

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    Default Pre-launch property sales, investor clubs in M'sia could come under scrutiny

    http://www.businesstimes.com.sg/prem...utiny-20140123

    ARE property pre-launch sales and bulk purchases by investor clubs distorting the prices of homes?
    Abdul Wahid Omar, the Minister in Malaysia's Prime Minister's Department, seems to think that pre-launch sales, at least, do, going by his remarks on Tuesday, which could pave the way to such practices being more closely watched.
    He was quoted by The New Straits Times as saying at a Cagamas event: "While we appreciate that developers want to sell their products and that the move (to hold a pre-launch sale) is part of risk mitigation, I don't think we should continue to allow this, as it will lead to property speculation."
    He was referring to the developers' practice of holding pre-launches, but the National House Buyers Association (HBA) jumped in and fingered investor clubs for fuelling speculation, which is sending home prices spiralling, since their en bloc purchases at hefty discounts are ultimately borne by other homebuyers.

  2. #2
    Newbie

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    Its an open secret in so many markets for so many years... officials ???
    Don't think so la.




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