Property developers should eat their losses, says buyers group

Property developers should eat their losses, says buyers group - Hello loyal readers FeedGoogle, In the article you are reading this time with the title Property developers should eat their losses, says buyers group, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

Developers should cut their prices instead of being given incentives, says a house-buyers’ group.PETALING JAYA: The National House Buyers Association has urged the government to reconsider the initiatives for the property sector under the Penjana economic recovery plan. The association’s secretary-general Chang Kim Loong said while Putrajaya’s intentions were well-intended, the three measures outlined under Penjana appeared to be “not well thought out”. The three measures are; A stamp duty waiver for residential properties priced between RM300,000 to RM2.5 million with the applicable stamp duty capped at RM1 million;Real Property Gains Tax exemptions for up to three properties until Dec 31 next year;Lifting of the 70% margin of financing limit for a third home valued at RM600,000 and above.On the stamp duty waiver, Chang said lower stamp duty collection would mean that the govern…