Valuation and Property Services Dept does not control property costs in Malaysia
PUTRAJAYA, Oct 1 — The Valuation and Property Services Department (JPPH) does not control the cost of property, including private structures, says its executive general Nordin Daharom.
Rather, he stated, the costs of houses were generally controlled by interest and supply, aside from ease houses in the essential market (from engineers), where their maximum price tag had been settled by the individual state specialists.
“Among the key segments that are said to impact the expenses of lodging advancement are the expenses of land and building materials. This weight is then reflected in the cost of the house concern which the purchaser needs to tolerate,” he said in an announcement here today.
He said this in light of a daily paper report which asserted that no one but JPPH could control the cost of private properties.
Nordin said that JPPH, which is under the Ministry of Finance, assumed a job in declaring critical pointers for the land market to monitor the market.
He said the job of JPPH, through the National Property Information Center (NAPIC), was to accumulate exact, complete and opportune data, and to give sign on the interest and supply of land market to government organizations, property engineers and different gatherings required with the property business, and additionally the overall population.
“With the scattering of data on the land advertise every once in a while, engineers, purchasers, and specialists that favor ventures, specifically, lodging ventures are stayed informed concerning the market’s circumstance,” he said.
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