Property Hunter Magazine Issue 63- February 2015 | Page 42

WEST MALAYSIA PROPERTY NEWS

WEST MALAYSIA
PROPERTY NEWS

Sharing news and information about various issues
related to the property industry from Peninsular Malaysia.

REHDA’s New Year Wish: Exempt Houses From GST
According to its President Datuk Seri
Fateh Iskandar Mohamed Mansor,
they have already submitted this
proposal to the authorities and are
awaiting their response.

“We will try again as we
still have time before the
government enforces the
GST next April,” he told
the media.
REHDA President Datuk Seri Fateh
Iskandar Mohamed Mansor

T

he Real Estate and Housing
Developers Association
(REHDA) of Malaysia is wishing
that the federal government would
exempt residential properties from
the Goods & Services Tax (GST).

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Aside from that, the higher land
premium charged by some state
governments to housing developers
could result in higher home prices,
noted Iskandar.
In the last five years, the premium
was only five percent, but now some
are charging up to 18 percent.

In particular, the organisation is
hoping that the government would
adopt this suggestion in regards
to low-cost homes priced below
RM500,000, he said, emphasising
that the exemption would help firsttime property buyers.

“This will definitely contribute to
the higher costs of doing business,
which might be passed on to
consumers. So I hope that state
governments like Selangor would
help us lower the price of its land,”
he added.