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.
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