All we hear is what the
fat cats the developers want from the government to boost sale of their properties
to increase their profits and do not have a plan of their own to make less
profits to boost the sale of properties. As long as the developers to not
change their profit ordinated mindset , the property market is not going to
recover and will go from bad to worse and then to life support coma. Buying and
selling properties is a 2 way traffic
A. Real Estate and
Housing Developers Association (Rehda) wish list to support the property
markets and housing developers
1.
The waiving of stamp
duty - expected increase in stamp duty on properties priced at over RM1 million
from 3% to 4% will further affect sale of properties. (Stamp duty exemption for
first-time homeowners limited to properties valued up to RM300, 000.
But properties
now cost RM 500,00 at the cheapest and decent double storey residential cost RM
800,00 and above
2.
Residential
properties are GST-exempt; developers are still affected by the 6% GST on building
materials and services.
3.
Abolition of GST on
all property sales residential and businesses
4.
Real Property Gains
Tax (RPGT) on properties sold within six years of the date of purchase
5.
Easing up of banking
regulations for hosing and businesses loans
Yes above is the
wish list of the Fat cats who have been the main cause of rise in residential properties
and whenever a new hosing estate is opened, the residential and business
property prices keeps going up.
B. Wish list of
Residential and business property buyers.
1.
Lower the prices of
new launch properties by 30 to 40% and can be done as the bulk of the
residential property prices are made of land prices in the average of 70 to 80
%
2.
Waive the Legal cost
for buy the property as developers have in house lawyers
3.
No payment to be
paid to developers until the property is ready and ready to deliver with
Certificate of Fitness except for nominal booking fee
4.
Development of
promised infrastructure and amenities as
most of the time the developers differ or cancel these developments and use the
available land for other purpose.
5.
Lower the down
payment of new property from 10% to 5%
6.
Rebates for early
buyers
7.
No taxes for first
time residential buyers and No GST or stamp duty for subsequent property
purchasers
8.
Transparency on cost
of developing a new residential housing estate
9.
On completion and
handing over the property to buyer at least 50% to 75% of Development of promised infrastructure and amenities must be ready
a.
Schools
b.
Shops
c.
Police station
d.
Market
e.
Playground , jogging
and exercise park
f.
Bicycle lanes
g.
Ample parking as a
normal family have an average of 3 to 4 cars , wide road lanes in front of
homes
h.
Community hall
i.
Wider lanes at
business canter and ample parking
j.
Banks
k.
Gated security
10.
Accessibility of
housing estate to a trunk road with good connectivity to major roads
11.
And many more
REDHA Wish list
