BUKIT LANJAN: Believe it or not! It’s down to buy one free one for link houses in Penang!
Malaysians! Wise up! Use this power to bring property developers down to their knees!
BUKIT LANJAN: Believe it or not! It’s down to 'buy one free one' for link houses in Penang!
It’s perhaps the first ever “buy one free one” for link houses in Malaysia and it’s happening in Penang! And it is for completed units!
You better believe it is happening and it is in Penang, coming from a reputable property developer that has projects nationwide.
“The ‘buy one free one offer’ is being promote by word of mouth in Penang. The developer is not publicly advertising, for obvious (egoistic or embarrassing) reasons,” Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said.
He said the domestic and global economic slowdown had naturally created the opportunity for consumers to unite and force down property prices.
“Supply has outstripped demand. That’s the power of supply and demand, creating a glut in the property market, forcing developers to reduce prices to sell their houses,” he added.
Read these previous blog posts for context:
https://bukitlanjan.blogspot.my/2017/11/bukit-lanjan-130690-houses-unsold-in.html (BUKIT LANJAN: 130,690 houses unsold in Malaysia! Keep it up Malaysians! Bring property developers down to their knees!)
https://bukitlanjan.blogspot.my/2017/11/bukit-lanjan-greedy-profiteers-property.html (BUKIT LANJAN: Greedy profiteers, property developers, gurus and banks responsible for ridiculous prices)
https://bukitlanjan.blogspot.my/2017/11/bukit-lanjan-malaysians-keep-up.html (BUKIT LANJAN: Malaysians! Keep up the pressure! Don’t rush to buy! Bring property developers down to their knees!)
https://bukitlanjan.blogspot.my/2017/11/bukit-lanjan-malaysians-hit-back-hard.html (BUKIT LANJAN: Malaysians hit back hard on property developers)
THE HOUSING MARKET IN PENANG TODAY
By Lim Chee Han
With an abundance of newly built high-rise condominiums, is Penang facing a property glut?
Malaysia’s population crossed the 30 million mark in February 2014. According to the Population and Housing Census 2010, about three in 10 people fall in the 20-40 years old age group – the one most likely to be firsttime home buyers. By 2020, that group is projected to grow to 11.3 million. In Penang, the current estimate for this age group is at 0.6 million, or 36% of the state population. The average property price in Penang currently stands at RM336,521. Even with the 50% stamp duty cut, middle income earners with two dependents can only afford houses priced at RM300,000 and below1,and looking at the current national average price for all types of properties, RM300,000 is well below the average (Figure 1) … for more, go to http://penangmonthly.com/article.aspx?pageid=2794&name=the_housing_market_in_penang_today
Syed Razak, who is Gerakan’s nominee to contest N.37 Bukit Lanjan in the coming 14th General Election (GE14), urged Malaysians nationwide, especially those in the Klang Valley, to continue and step up the pressure by refraining from buying properties.
“If a major property developer can be forced to start selling landed property in Penang at ‘buy one, free one’, the continuous pressure will also force others to do the same.
“Prolong the pressure as long as possible. Refrain from buying. Rent first. Property prices will then crash down to affordable levels,” he added.
Syed Razak said: “This is the best opportune time for Malaysians to teach property developers in Malaysia a lesson they will never ever forget.
“It’s time for Malaysian house buyers to hit back hard on property developers who have been profiteering for decades, rising prices to obscene levels.
“Keep up the pressure on property developers for as long as possible and we Malaysians will surely benefit."