Expert: GST to have mininal impact on property sector

KUALA LUMPUR: The goods and services tax (GST) is expected to be a mere blip on the property sector, with a rise of not more than 3% to 4% in terms of property prices, according to property consultancy Rahim & Co executive chairman Tan Sri Abdul Rahim Abdul Rahman.

Abdul Rahim said although the residential sub-segment is GST-exempt, building materials, labour and machinery are not, so developers would have to take this into consideration.