House Buyers Association wants higher stamp duty on third and subsequent properties

PETALING JAYA: National House Buyers Association (HBA) wants the stamp duty on the third property and subsequent properties to be raised substantially to reflect the market value of the property and make speculative buying more burdensome.

“We propose the current stamp duty remain the same for the first two properties bought, and then increased to a flat rate based on the property price for the third and subsequent properties to discourage speculative buying,” said HBA secretary-general Chang Kim Loong .