For those of you who wanted to take up a residential property with Developer Interest Bearing Scheme (DIBS) before year end, you will be disappointed by the following. Jabatan Perumahan Negera (JPN) has issued a statement pertaining to banning of interest capitalization scheme or any similar scheme including DIBS from 15 November 2013.
It has always been intriguing to see how the housing developers came up with some creative gimmicks to boost their sales. To me, "interest capitalization" from the statement somehow restricted JPN's determination to curb housing prices. And there are definitely other ways to get around it.
The housing developers are always blamed for the rise of housing prices. People seem to forget that it takes two to tango. It could not be done without the collaboration of financial institutions and speculators. Last but not least, real estate no doubt is a good hedge against inflation, nonetheless, like other alternative investments, it will not go north forever.
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