INDUSTRY NEWS (20 JANUARY 2021)
Court: Payment for late delivery of houses must be calculated from date booking fee is paid
The Federal Court has ruled that the payment due from housing developers to purchasers for late delivery of houses should be calculated from the date the booking fee is paid, and not the date the sales and purchase agreement (SPA) is signed. Delivering the landmark decision
Cover Story: What to look out for in the property market this year
Last year was a tough one for almost all property sectors. According to data from the National Property Information Centre (Napic), in 1H2020, Malaysia’s property market transaction volume and value decreased 27.9% and 31.5% respectively compared with the previous year.
The traditional view is that life is about growing up, getting a job, settling down and buying a house. But for most of the younger Malaysians today, the last item is likely to be struck off the list. They just do not have the money, unless the parents or a rich relative chips in.
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