johari-abdul-ghani

Malaysia: Govt to set up a single authority to regulate property sector

  • Jul 25, 2017

KUALA LUMPUR: The Government is looking to establish a single regulatory body to regulate the property sector.

The Second Finance Minister Datuk Seri Johari Abdul Ghani said that the issue of residential house prices being unaffordable is due to this.
“All these happens because there is no one single regulatory body to supervise us. The problem with our property market is there is no one single body to basically supervise us,” he said.
“You end up people everywhere talking about affordable housing but the definition of one developer’s affordable housing against another developer’s affordable housing differs broadly,” he added.

Source: http://www.thestar.com.my/business/business-news/2017/07/25/govt-to-set-up-a-single-authority-to-regulate-property-sector/#r1766eKpGSJJgZDM.99