Property Hunter Magazine Property Hunter Magazine Issue 51 - February 2014 | Page 40

/// West Malaysia Property News WEST MALAYSIA PROPERTY NEWS Sharing news and information about various issues related to the property industry from Peninsular Malaysia. Penang’s New Housing Rules to Start in February Wide Support for Revised RPGT a rate of 30% within three years followed by 20% and 15% in the fourth and fifth year respectively. No tax is imposed if a property is sold after six years. The increase in the real property gains tax (RPGT) to discourage speculative buying has come in for wide support, and not just among people looking to own homes. Centre for Public Policy Studies chairman Tan Sri Ramon Navaratnam said the RPGT was a good way to dampen speculation and even prev