REAL Property Gain Tax (RPGT) is a good mechanism to curb market speculation. However, its objectives need to be better defined, says PropertyGuru Malaysia country manager Sheldon Fernandez.
“Is it a means for the government to generate revenue? Or will its primary purpose to prevent market overheating and quick rises in property prices be retained? The objectives must be clearly defined,” he said.
Fernandez said buying sentiment in Malaysia has largely been driven by owner-occupiers and long-term investors, noting that speculators, by and large, have exited the Malaysian market post the many cooling measures imposed gradually from 2010 and onwards.
