Real Estate and Housing Developers’ Association Malaysia (Rehda) said not many developers have been undertaking development of properties above RM1 million since the implementation of various cooling off measures in 2004.
Nonetheless, it is hoping that the authorities will reconsider the new ruling considering that for certain areas in the country where land prices are high, building properties below RM1 million is impractical.
“Furthermore, in certain locations across the city, there are still demand for high-end properties and free-market should prevail.”
MediaTitle: The Sun
Date: 22 Nov 2017