Ministry to introduce comprehensive property database


The ministry has emphasised that it will address several issues which include lowering house prices by reducing compliance cost and implementation of industrialised building systems.

KUALA LUMPUR: The Housing and Local Government Ministry (KPKT) is currently working on a comprehensive database to help first-time house buyers own a property.

Its Deputy Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad said the database, which is expected to be introduced next year, would include transactions and property ownership data and become a reference for property developers to better plan their supply.

“The database will also help authorities to filter the property purchasers who own multiple properties from first-time house buyers.

“We are working hard on it. The biggest challenge that we are facing is some resistance from local authorities in surrendering the housing market data which is totally not a healthy situation,” he told reporters after officiating the opening ceremony of the ‘Housing and Property Development Colloquium’ here, today.

The one-day conference is organised by Kingsley Advisory and Strategic Initiatives Institute with the theme ‘Reimagining the Housing and Property Industry in the New Malaysia’. - Bernama
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

housing

   

Did you find this article insightful?

Yes
No

Next In Business News

CPO futures trading to remain range bound next week
Advisory panel unanimously recommends FDA authorize Johnson & Johnson COVID-19 vaccine
GameStop rally fizzles; shares still register 151% weekly gain
NYSE begins move to delist Chinese state oil producer CNOOC
Oil price drops on US$ strength and OPEC+ supply expectations
GLOBAL MARKETS-Globals stock slide on inflation fears
AMMB says it has enough capital to absorb 1MDB global settlement�
A five-year high for FGV Holdings
AMMB to pay RM2.83bil to the government
IHH to take proactive measures

Stories You'll Enjoy


Vouchers