♦ Downpayment ratio to be raised? Last weekend, The Edge Weekly reported that Bank
Negara Malaysia (BNM) may implement new lending rules to cool real-estate industry.
According to the article, downpayment ratio may be raised to 20% compared to 10%
currently. This is despite the reimposition of 5% real property gain tax (RPGT) announced during Budget 2010, to curb the speculative buying of properties. A few countries, such as China, Hong Kong and Singapore, where their properties experienced significant appreciation in prices over the past two years, have already implemented progressively higher downpayment ratio for buyers who own more than one property.
Property Sector Update : Downpayment Ratio To Be Raised? - 30/08/2010
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