Tighter Govt measures vital to curb speculation in property market

KUALA LUMPUR: Savills Rahim & Co founder and executive chairman Datuk Abdul Rahim Rahman has refuted developers’ claims that the various measures proposed under Budget 2014 would “dampen” or “kill off” demand, proposing increasing the stamp duty on the purchase of third and subsequent properties instead.

“Additional measures should be imposed on the purchase of the third and subsequent properties by increasing the stamp duty if (the Government) wants to stop speculation, and perhaps, stop the increase in house prices. There is justification for this,” he said at a post-Budget press conference.