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