Weekly Industry News

Comprehensive measures needed for property

Weekly Industry News

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.

Media Title: The Star

Date: 09 Nov 2020

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