Higher RPGT Rate in 2014
Development Cost to Rise With GST in Sabah
Full house turnout to the seminar hosted by SHAREDA
Currently, it stands at
1pc for properties priced
RM100,000 and below, 2pc for
properties over RM100,000
to RM500,000, 3pc for
properties over RM500,000
to RM2 million and 4pc for
properties over RM2 million.
The maximum loan-to-value
ratio for third and subsequent
homes was also not reduced
from 70pc as expected. The
50pc stamp duty exemption
for first-time homebuyers still
applies to sale and purchase
agreements signed between
1 January and 31 December
2014. The determining factor
in many cases is how easily
or quickly buyers can get
loans as banks have tightened
requirements.
The secondary market has
slowed down generally
but with many exceptions
in different locations and
property types from the first
half of 2013. Buyers have to
make bigger commitments as
valuations and asking prices
do not match. The secondary
market is expected to be
subdued in the first half of
2014 while getting use to the
Budget 2014 terms.
Some market observers
say the cooling measures
introduced by the government
in Budget 2014 will dampen
activity. Some developers now
developing property priced
between RM500,000 to RM1
million (previously capped at
RM500,000 upwards) in 2014.
Foreigners will only be eligible
to buy homes above RM1
million.
This is blamed on the risk
of the yo-yoing government
policy that is not instilling
confidence in picky foreign
investors wary of flip-flop