“The number of distressed cases are on the rise, but this is not being reported,” a source says. Or it could be under-reported.Foreclosure is a process, whereas the auction is the final point.
Sources concur that today’s weak property market must be viewed from 10 years ago when prices began to rise starting 2009/2010. Banking sector’s “responsible lending measures” took effect on Jan 1, 2012. Interest bearing schemes were banned Jan 1, 2014. The issue is complicated further with completed unsold units. As at Dec 31, 2018, Malaysia has unsold completed residential units including serviced apartment and small offices home offices totalling 45,027 units, valued at RM29.69bil.There are multiple consequences of using overall headline price in the SPA inclusive of rebates and other freebies, instead of the net house price.
This is the level whereby the small fries will diminish rapidly.
Dead fish always floats to surface
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