Malaysian property market could receive greater regulation
By James Roberts

Malaysian property market could receive greater regulation

The Malaysian property market could receive greater regulation in the future if the Building Management Association of Malaysia (BMAM) has its way.

According to The Star, the association want a board of property managers to be created that is independent of the Board of Valuers, Appraisers and Estate Agents (BVAEA).

BMAM president Datuk Teo Chiang Kok told the newspaper: "We feel that there should be a separate board that is placed under the Housing and Local Government Ministry to regulate and license all who are qualified and experienced in managing property."

This follows objections from the BMAM to Malaysia's strata management bill, which has been tabled in parliament.

The bill states that only property managers that are registered valuers can manage stratified properties.

However, BMAM wants the term "registered property managers" to be removed, because this would give some a monopoly and make it so some existing property managers are unqualified.
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