Property consultants are disappointed that Budget 2021 proposals lack the bite to kickstart a sector which has remained stubbornly in the doldrums for some years now.
They are disappointed that Budget 2021 was silent on game-changing issues like the real property gains tax (RPGT), which remains at 5% from the sixth year of disposal, the lack of automatic release mechanism for unsold bumiputra units and the lack of a single housing corporation to oversee affordable units.
They are also uncertain if the stamp duty exemption proposed in Budget 2021 is limited to the primary market when buying from developers.
