PETALING JAYA: The increase in Real Property Gains Tax (RPGT) will dampen speculation but it is unlikely to stop house prices from escalating and may even lead to a rise, say developers and consultants.
Real Estate and Housing Developers Association (Rehda) president Datuk Seri Michael K.C. Yam said the drastic increase to 15%-30% from 10%-15% previously would discourage any would-be speculator.
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