Property crowdfunding kicks off

TheStar Sat, May 18, 2019 08:15am - 4 years View Original


A NOVEL way for first-time house buyers to fund their purchase without a bank loan will soon hit the market.

Enter property crowdfunding (PCF). This is where individual investors have the option to finance a new home buyer’s purchase, with the hope that all will reap the benefit in, say, five years’ time when the property is sold.

On Friday, at a launch event officiated by Finance Minister Lim Guan Eng, the Securities Commission (SC) issued a set of guidelines that set out what needs to be done by parties seeking to operate PCF platforms.

Lim is hopeful that PCF will address the oversupply situation in the property market.

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