Sorry but I don't agree with this article, that too coming from a greedy developer. He also twisted facts on Singapore, the cooling effect did make a difference in Singapore and curb property price hike.

In Malaysia the developers created this mess with the government colluding in dIBs. DIBs is the root cause of the inflated prices and one we can't recover from. Though it is no more and the government clearly said no discounts, yet developers openly give discounts and thanks to lack of enforcement nothing happens.

The development in klang valley especially in KL is becoming indescriminate, developers start building at crap locations, next to HTC yet people buy.

I think government should strictly enforce and stop the discounts. Only people who really have the financial ability to take on debt should buy a property, else rent and save, that's what people did for dozen of years.