Selangor Journal

High demand affect property premiums

SHAH ALAM, MAR 31: Dato’ Menteri Besar, Dato’ Seri Mohamed Azmin Ali said there are several factors affecting the high land premiums in Selangor
According to him, it is the high demand in the Selangor property market as well as the rapid development in certain areas due to additional infrastructure, which are increasing the premiums.
“Besides that, other affecting factors are rapid economic growth and increasing domestic and international investments.
“The socio-political stability under the existing State Government and widespread speculation by property investors are also contributing factors,” he said.
DUN MAC 17 (10)
He said that in response to an oral question by Sekinchan Assemblyman, Ng Suee Lim.
Mohamed Azmin said that the State Government also provides incentive based on PTGS Circular No 1/2016 and 3/2016.
One of the incentives, is to extend the premium payment period to 12 months for residential and 6 month for commercial properties.
Besides that, a special incentive scheme is also provided to extend the lease period for businesses in old buildings in rural areas.

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