KUALA LUMPUR, Jan 26 — The purchase of properties is expected to boom before the implementation of the Goods and Services Tax (GST) on April 1, 2015, said iProperty.com Malaysia.
Group Managing Director and Chief Executive Officer Georg Chmiel said the property market was expected to pick-up up again after property buyers and investors adjust to the changes.
“Once the GST is implemented, the property market may see a slight decline. Calculations have shown that the implementation of the GST will result in a cost increase of about between three and four per cent of current prices,” he said.
He said that iProperty.com would organise forums on GST during the three-day “Lifestyle Exhibition for Property, Home and Living” in order to give property buyers and investors a better understanding of how the GST would affect the property market.
The exposition, to be held at the Mid Valley Exhibition Centre from Jan 31, 2015 would feature over 60 exhibitors and attract about 50,000 local and foreign property buyers and investors.
“The seminars are specially designed to address a spectrum of property-related issues, including opportunities, challenges and legal must-knows for investing in properties,” added Chmiel. — Bernama
