Malaysian glass city housing prices go down
Glass City is the smallest state in Malaysia. The total area is 821 square kilometers. The state is located in the northern part of the west coast of Peninsular Malaysia. It is bordered on its northern border by the Thai provinces of Satun and Songkhla. The state of Kedah is to its south. The capital of the city of Glass is Kayang and the royal capital is Arau.
Industrial industries are mostly concentrated in industrial development areas such as the Sungai Bamboo Grass Industrial Park, Kuala Glass City and Padang Besar Real Estate. Other commercial properties include stores, hotels and shopping centers. Popular residential properties include semi-detached houses, row houses and townhouses. There is also land for sale.
The US dollar was trading at 3.1283 against the ringgit, a 13-year low, influenced by Bank Negara Malaysia’s decision to include the ringgit as a cross-border trade settlement currency. The domino effect of the significant appreciation of the Malaysian ringgit has led to an influx of investment funds into the glass city real estate market. In the past 6 months, the price of new real estate market in Malaysia rose 10-15%.
Bank Negara Malaysia is mulling over a regulatory measure to curb the rapid rise in real estate prices, that is, Bank Negara Malaysia will probably be more than 700,000 ringgit of high-end housing loan value from the original 90% or more, reset at no more than 80%.