{"id":32746,"date":"2018-01-12T10:01:42","date_gmt":"2018-01-12T02:01:42","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=32746"},"modified":"2018-01-15T03:07:50","modified_gmt":"2018-01-14T19:07:50","slug":"investor-clubs-spoiling-property-market","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/investor-clubs-spoiling-property-market","title":{"rendered":"Investors\u2019 Clubs Spoiling Property Market, Says Analyst"},"content":{"rendered":"<p>Property investors\u2019 clubs (PICs) are distorting the Malaysian housing market, says an analyst.<\/p>\n<p>In assessing purchasing trends, Foo Gee Jen, president of the Association of Valuers, Property Managers, Estate Agents and Property Consultants told the <em>Malay Mail Online <\/em>that while these clubs initially comprised rich individuals, recent data suggested membership among lower- or middle-income earners.<\/p>\n<p>PICs are known to distort the market by creating artificial demand when buying properties en bloc, usually with discounts of up to a fourth below market price.<\/p>\n<p>These individuals exploit procedural loopholes to acquire properties without deposits and then flipping them at highly inflated prices on the back of supply shortages which they themselves create through a practice called \u201chogging.\u201d<\/p>\n<p>Hogging is a practice whereby speculators hog or keep the properties bought through bloc purchases to create artificial shortage and leverage on high demand to inflate the price.<\/p>\n<p>They will eventually release the units into the market to flip for profit, usually at around 15% to 20% higher than retail, or up to 40% if discounts given by developers are factored in. Despite consistent complaints about their activities, PICs remain unregulated.<\/p>\n<p><em><a href=\"http:\/\/www.themalaymailonline.com\/malaysia\/article\/property-flipping-here-to-stay-as-lower-income-earners-get-into-the-game#wl0XXfgBlYVfbZFo.97\" target=\"_blank\" rel=\"nofollow\">[Source]<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stop being greedy!<\/p>\n","protected":false},"author":29,"featured_media":21328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[216,21],"tags":[],"class_list":["post-32746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates","category-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Analyst: Property Investors\u2019 Clubs Distorting Housing Market<\/title>\n<meta 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