The Real Estate and Housing Developers’ Association (Rehda) hopes the government will lower or abolish unnecessary charges and requirements imposed on developers to reduce the cost of doing business.
President Datuk Soam Heng Choon said developers have been experiencing a significant increase in the cost of doing business, particularly in construction materials and consultancy services, which are between 5% to 10% higher.
“By being able to reduce the cost of doing business, the savings can be passed on to house buyers in the form of more affordable housings, ” he told Bernama when sharing Rehda’s wishlist for the upcoming Budget 2020.
The requirements that developers have to comply include land conversion premium, capital contribution charge (for infrastructure and utility) where some plots of land need to be surrendered for plants and machinery construction and stamp duty.
Media Title: The Star
Date: 26 Sep, 2019