In an announcement today, Kwasa Land, a subsidiary under EPF has bought 2,330 acres of land at RM2.28 billion from the government. That comes to around RM22.46 per sq ft (which is seemingly very cheap). The development is planned for 15 years.
With such a large development being offered, will property prices taper down? - as supply will definitely increase.
Can I say something needs to be done to reduce the prices of properties? And this can be a good start.
p.s. Although I need a new house, believe me I am not in those category that seriously in need of one.
