Adjustment in house prices likely

KUALA LUMPUR: The adjustment of the market price of houses is expected to be seen in the third or fourth quarter of next year after the implementation of the Goods and Services Tax (GST) in April.

Syarikat Perumahan Negara Bhd (SPNB) president Datuk Dr Kamarul Rashdan Salleh said the adjustment would occur when the cost of building materials returned to normal or was cheaper a few months following the introduction of the GST.       

“I am confident the reduction in prices of building materials would happen three or four months after the implementation of the GST, leading to the adjustment in market prices of houses to a more stable level or cheaper,” he said in an interview with BernamaTV. – Bernama