Comprehensive measures needed for property

The RPGT has been capped at 5% during the Pakatan Harapan government even if owners were to sell their properties from the sixth year onwards. Prior to this, owners need not pay RPGT from the sixth year onwards.

PETALING JAYA: Property consultants are disappointed that Budget 2021 proposals lack the bite to kickstart a sector which has remained stubbornly in the doldrums for some years now.

They are disappointed that Budget 2021 was silent on game-changing issues like the real property gains tax (RPGT), which remains at 5% from the sixth year of disposal, the lack of automatic release mechanism for unsold bumiputra units and the lack of a single housing corporation to oversee affordable units.