This website is
 sponsored.gif

banner.gif

 Welcome    Main    Forum    FAQ    Useful Links    Sample Letters   Tribunal  

Property buyers against abolition of CFO
The Sun 09/12/2004

PROPERTY buyers are not in favor of the proposal to abolish the Certificate of Fitness For Occupation (CFO) for completed housing units on concerns that it could lead to abuse by developers and lower quality of houses, according to a survey.
 
Respondents of the survey said while the abolition of the CFO may ensure speedy occupation of properties; property developers and result in lower quality products might abuse it.

In the CH Williams Talhar & Wong CEO Opinion Survey on the Property Sector 2005, which was released yesterday, respondents said the proposed move would we welcomed by developers as it would reduce bureaucracy as well as the time and cost to build properties. The survey involved 150 respondents, comprising property developers, consultants, construction firms, financial institutions, building materials suppliers as well as plantation and utility services management firms.

In announcing the findings, CH Williams Talhar & Wong managing director Goh Tian Sui said 74% of the respondents said now was the right time to move into Real Estate Investment Trusts (REITS). But he said there had not been many REITS deals due to the lack of good assets, particularly for shopping complexes.

On the outlook for the property market in 2005, respondents were bullish on the residential sector and expected buying interest in landed properties to grow next year.

One- third of the respondents believed prices of landed properties would go up by at least 10%, while more than 50% expected prices of shop houses/offices to improve next year, against 40% in the previous survey:

Goh said the respondents also believed foreigners would continue to show interest in commercial office space and commercial retail properties next year. This was against their preference for condominiums, apartments and commercial purpose built offices in 2004, he said.

 

Main   Forum  FAQ  Useful Links  Sample Letters  Tribunal  

National House Buyers Association (HBA)

No, 31, Level 3, Jalan Barat, Off Jalan Imbi, 55100, Kuala Lumpur, Malaysia
Tel: 03-21422225 | 012-3345 676 Fax: 03-22601803 Email: info@hba.org.my

© 2001-2009, National House Buyers Association of Malaysia. All Rights Reserved.