Weekly Industry News

Solution sought for unsold high-end properties

Weekly Industry News

WHILE high-rise condominiums in strategic locations such as Mont’Kiara continue to see good demand, sales for high-end properties are mostly languishing.

With developers drawing much flak over these unsold units, other parties involved should take responsibility for this situation.

The economic hardship brought about by Covid-19 has exacerbated the issue relating to affordability, while a penalty such as a vacancy tax is being proposed on these unsold properties.

Currently, under review by the Housing and Local Government Ministry, this will not likely be imposed next year.

Like imposing a tariff, things like vacancy tax only serve to sweep the real problem under the carpet.

Media Title: The Star

Date: 14 Sep 2020

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