Malaysia curbs property speculation
 

Malaysia curbs property speculation

Tuesday, November 9, 2010. Catherine Deshayes @themovechannel

Malaysia's central bank said third-home buyers are now restricted to a maximum loan of 70% of the property's value...

Malaysia's central bank said third-home buyers are now restricted to a maximum loan of 70% of the property's value...

The new rule, which takes effect immediately, aims to curb speculative investments in the country's residential property market, which has seen higher-than-average price increases in some areas.

Financing for purchases of first and second homes will not be affected, Bank Negara said in a statement. First- and second-home buyers can borrow as much as 90% of the property's value.

"The measure aims to support a stable and sustainable property market, and promote the continued affordability of homes for the general public," the statement added.

Central bank Governor Zeti Akhtar Aziz last week said the bank would take action to prevent asset bubbles, including measures to curb real estate speculation.

The central bank "won't act unless we see imminent risks of an asset bubble," Ms. Zeti had said.

Source: WSJ


Author - Dan Johnson

Tags

Share this Article:

Other recent new listings in Malaysia


Villa for sale in Selangor

Malaysia » Selangor

£417,108

House for sale in Kudat

Malaysia » Kudat

£1,985,183

Follow TheMoveChannel.com:

Get our news by email

Submit