Latest government cooling measures can help stabilise property market

Big take: Bulk buying creates artificial demand in the early stages of a project

THERE are many ways to stabilise the residential property market and the latest measure by the Government to curb bulk buying is a step in the right direction to ensure a more equitable market that is led by real demand.

On Monday, Urban Wellbeing, Hou­sing and Local Government Minister Datuk Abdul Rahman Dahlan said developers selling more than four residential units to a single buyer or group must now obtain prior approval from the Controller of Housing. The new enforcement would be made compulsory in all real-estate advertising and sale permit materials.