REHDA is forecasting a challenging year in 2014 for the local property sector, with 87% of respondents in its survey having pessimistic or neutral outlook for the first half of this year.
President Datuk Seri Michael Yam said on Monday the various cooling measures announced by the Government at Budget 2014 is gaining traction and is having an impact on the market sentiment.
The survey also revealed that 74% of its respondents believed that the implementation of the Goods and Services Tax (GST) will have an impact on the industry when it’s implemented in April 2015.
The survey was sent to 150 members from 12 states across peninsular Malaysia.
REHDA has submitted various proposals to the Government regarding the GST, such as relief for transactions involving affordable housing and the rationalisation of stamp duty on transfer of properties.
