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Budget 2019: RPGT tour to increase the housing market in the secondary market, says PAM



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KUALA LUMPUR (Nov. 4): The rise in real estate property tax (RPGT) gains from the sale of real estate will show a rise in the price of housing sales, the Malaysian Institute of Architectural Services (PAM) said.

"Although it is aiming to reduce speculation, it is likely to affect real-estate market needs for real sales, which are geared towards better home-based home improvement.

"The sale price of the property will also increase as the owner repairs or renovates the property, taxing sales on sales because of replanting not only falls on the owner and may result in real estate prices to cover the tax factor," said Haram Ismail EdamProp. my's.

But the price of new projects is likely to be subject to some downward pressure, given the release of sales and service tax (SST) in construction services and building materials, he commented.

"I hope that the SST exemption includes professional services provided by construction professionals, such as architects, engineers, designers and engineers," he urged.

On the other hand, the campaign on national residential property, where developers offer a 10% discount on existing residential property projects, is a very good program to reduce overvaluation of residential properties, he added.

Meanwhile, he argued that the government's proposal to exempt the stamp duty had a good impact on the sale of real estate, but it would be better if the duration of the exemption could be extended up to two to three years to allow for more moderate sales advances, which are other economic activities.

"The six months deadline for exemption is too short, and it is likely to cause a sudden increase in the number of transactions," he explained.

Ezumi pointed out that a part of the EUR 1.5 billion budget allocated to the Perumahan Rakyat, Perumahan Penjawat Awam Malaysia, PR1MA and Syarikat Perumahan Nasional Bhd, instead of the capital requirements for building houses, was a part of the research and development (R & D) budget for finding a better housing solution. investing in construction industry professionals.

"The 2222 billion forints overcrowding of real estate shows that the problem is not about the lack of stocks, but about the discrepancy between the needs and affordability of the shipped houses and the prospective buyers. Research and development offers better quality housing at affordable prices to meet people's needs your needs, "he said.

However, most R & D focuses on the cheapest solutions, which are not necessarily the best solution, he said.

Moreover, there are not many platforms for young architects and engineers who can provide solutions to housing issues to participate in finding and presenting new ideas in housing construction.

"With comprehensive research and development and design ideas, we need to be able to produce better quality homes that meet the needs and lifestyles of the new generation." Such competitions and R & D also offer a more cost-effective and sustainable development methodology, "he added .

He also welcomed the government's announced real estate financing system to resolve funding and affordability issues in the housing sector.

But he urged the government to regulate the mutually lending approach in order to avoid any misuse and manipulation of irresponsible parties.

Lastly, he admitted that the government will allocate 400 million RMB to the maintenance and repair of identified government quarters, as this is a good start to building buildings.

"The maintenance budget is always what we are unable to maintain and modernize our facilities. Future budget reviews should allow such allocation to other buildings, including housing.

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