Many have suspected that “sold out” property launches in Penang are not quite what they seem. Now comes news that the state government will probe pre-launch “bookings”.
The state government says it is also committed to ensuring affordable housing for low-income Penang residents through the Penang Housing Board. It also wants to control speculation and curb rocketing house prices soon after launches.
What have you heard or what’s your experience with this?
This report from The Star:
GEORGE TOWN: The Penang Government will probe allegations that employees of housing developers booked units in projects prior to their launch and sold them later at higher prices.
Chief Minister Lim Guan Eng said such complaints had come to his attention.
He said the state, through the Penang Housing Board to be gazetted on July 1, would study measures to curb such practices, which allegedly caused house prices to increase almost immediately after their launch.
Lim said the board would also introduce measures to safeguard the interest of Penangites who wanted to buy affordable homes.
He said other steps that would be studied included control of the sale of affordable homes in Penang to only first-time house buyers.
“This is to ensure that every eligible Penangite will have the opportunity to own a home,” he told a press conference here yesterday.
He was asked if the state planned to introduce measures to limit ownership of homes.
“When the Penang Housing Board is gazetted, our main aim will be to build affordable housing and priority will be given to Penangites and first-time buyers,” he said.