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“A vacancy tax typically applies to properties that remain vacant — unsold or unrented — for more than six months in a year. In countries such as Canada and Australia, particularly in cities like Melbourne, this tax is set at between one and 3% of the property or land value.
The recent reduction in Malaysia’s Overnight Policy Rate (OPR) is expected to stimulate moderate property demand in the second half of 2025, particularly in the mid-range segment, while the high-end market remains strong, analysts say.
Johor Bahru property prices registered a sharp increase in the second quarter of 2025 following the launch of the Johor-Singapore special economic zone (JS-SEZ), driven by strong demand for high-end housing and cross-border investor interest.
Malaysia’s real estate market recorded steady growth across key sectors in the first half of 2025 (1H 2025), supported by strong data centre investments, infrastructure development and resilient domestic demand, according to Knight Frank Malaysia.
Property prices across the Klang Valley are set to rise this year, but the Selangor government has assured that buyers of state housing projects will not face unreasonable price hikes. State executive councillor for housing, Borhan Aman Shah, emphasised that price increases will not be approved without justification.
THE state can grant permission for development to take place on government-owned land, if it has undergone the proper disposal process and the new landowner has fulfilled the necessary conditions.
Bank Negara Malaysia (BNM) has reduced the Overnight Policy Rate (OPR) by 25 basis points to 2.75%, marking its first rate cut in over a year. The central bank said the move is a proactive measure to support the country’s economic growth amid external uncertainties and moderate inflation.
Selangor Local Government and Tourism Committee chairman Datuk Ng Suee Lim said that land approvals that are withdrawn would be given to other parties in need.