KUALA LUMPUR: Real Estate and Housing Developers’ Association Malaysia (Rehda) expects the Government to increase real property gains tax (RPGT) by 15%-20% in the 2014 Budget to be tabled on Oct 25.
Its chairman of finance and investment committee, Datuk Ng Seing Liong, said buyers should not worry about the increase in RGPT as it would only affect buyers who disposed of their properties within five years after their purchase.
“At least when buyers buy property, they must hold it for five years before they let it go,” he told a media briefing.
According to news reports, the Government was considering an increase in RPGT to curb excessive speculation which has led to the increase in the prices of houses. — Bernama
