Govt asked to deter property speculation via RPGT and stamp duty

PETALING JAYA: With the number of property transactions and new project launches having dropped since the Government’s market cooling measures imposed early this year, will there be further tightening of the market to rein in property speculation or will there be some easing in Budget 2015?

National House Buyers Association honorary secretary-general Chang Kim Loong, who supports further tightening, urged the Government to impose stronger measures to deter property speculators in the form of higher real property gains tax (RPGT) and stamp duty.