Developers are encouraging the government not to impose an additional stamp duty or amend the existing Real Property Gains Tax policy, according to Bernama.
In a statement, the Malaysian Developers' Association (MDC) said a policy revision will negatively affect the residential market and discourage foreign investment into Malaysia, at the back of a plateauing demand in housing as well as the growing supply of commercial office units.
They added that any change made to the policy may also dampen property sales and occupancy rates.
The MDC issued the statement following the recently concluded 16th MDC council.
Moreover, the association also noted that the increases in property prices may be attributed to the rising input costs, such as "increases in basic building materials which are major components of construction cost, land and compliance cost."
They also asked assistance from the government to guarantee fair pricing for cement, following the recent announcement of increase in cement prices.
Additionally, MDC praised some state governments for being responsive enough in implementing affordable housing, rather than low-cost housing.
"Whilst we empathise with the increasing housing price which is presently affecting the public, we would support any initiative to move away from the subsidy policy," added MDC.
No comments:
Post a Comment