31 Oct '13, 7am

#GlobalREBubble 'Malaysian Tax Will Dampen Demand' via @SGPropertyGuru

The recent announcement of a doubling of the Real Property Gains Tax (RPGT) in Malaysia - from 15 percent to 30 percent for properties sold within the first three years - will certainly put a damper on Singaporean property investors who look to Malaysia to make quick cash gains. Speaking to the Malaysian National News Agency Bernama , Steve Melhuish, co-founder and Chief Executive Officer of PropertyGuru Group, said: “Speculative investors are an attractive cluster for Malaysian property developers because their primary aim is flipping property within a limited period of time – say within the first two to three years.” “My concern now is that with the new 50 percent rise in RPGT kicking in, Singaporean investors who were previously ploughing money into Malaysia property may now choose to hold on to their money instead,” he added when asked about the recently tabled 2014 Bu...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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