Consultants: Vacancy tax won’t solve overhang

vacancy tax

PETALING JAYA: The government’s plan to impose a vacancy tax on developers to resolve Malaysia’s unsold units have been shot down by property consultants, the view being the tax will not solve the overhang but will instead raise prices.

All three consultants say Housing and Local Government Minister Zuraida Kamaruddin should look at other ways to resolve the issue of unsold units that go into billions of ringgit.