owners especially those whose earnings
are based on hand to mouth basis are
the ones that are likely to be affected
the worst, he said.
To spur the real estate market, Yam
is hopeful that the government
would continue the Home Ownership
Programme (HOC) where it has helped
not only developers but buyers too.
In addition to purchasing a property,
bank interest rates could also be
maintained and the government could
also review the Real Property Gains Tax
(RPGT) policy.
Tew added that the government should
encourage more buy and sell activities,
ultimately by lowering the RPGT
momentarily as stamp duty and other
charges helps the government raise
more money than income from RPGT.
Lim also added that the relaxation of the
existing lending policy by Bank Negara
would also help spur the property
market, further.
Besides, he said the lowering of the
foreign property buying threshold in
Selangor would enable more foreigners
to purchase properties., which would
also contribute towards reducing the
existing property overhang and address
the glut in the property market.
MIEA will be continuing their MIEA Hope
Programme through their Facebook
platforms and ZOOM every day at 10:00
am and 3:00 pm to help members to
improve their professionalism and
overcome possible obstacles during
and post MCO.
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