Monday, 14 Oct 2019 02:30 PM MYT
However, last Sunday Lim Guan Eng clarified that reduced threshold of foreign buyers for condominium is only for current unsold houses and will not be applicable to newly launches. Second, the Government should seriously consider implementing vacant unit tax. This would reduce developers holding power and force them to sell at discount if they unable to sell their product, which primarily happened due to developers’ wrong forecast and product pricing. Developers would also have an option to lease the property while getting buyers, and this move would increase the supply of rental units available, that would push rental rate down.
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