“We have put forward in our budget wishlist proposals to review any levies or import taxes on imported materials. But the reality is that everything that we consume requires energy, especially construction materials.
“Remove any impediments that cause costs to go up and encourage competition. At the same time, hopefully, energy costs will continue to moderate although, given the global challenges, I’m not too optimistic,” he said.Proposals under Rehda’s budget wishlist include a rent-to-own scheme for first-time house buyers as well as a tax reduction on interest incurred during the construction period .
“Also, as cost increases, developers may realise that incomes are not keeping up within the affordability of future homeowners.”“To be fair, I think the government is trying its best to manage the situation, given the fact that some countries around the world have hiked rates extremely.” “But with real estate, it takes a longer gestation period for people to be more confident about the market.”
Separately, Tong said market forces should be left at work to help clear the property overhang situation in the country.
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Source: DailyExpress_MY - 🏆 3. / 83 Read more »