Housing prices to drop by 10%

Help for house buyers: (From left) Lim with Rehda’s Toh, Tan Hun Beng and Datuk Jerry Chan sharing a light moment after the press conference at Setia SPICE Convention Centre, Penang.

GEORGE TOWN: Housing prices in Penang are set to drop by at least 10% with the implementation of the Sales and Service Tax (SST).

Real Estate and Housing Develo­pers’ Association Penang (Rehda) hopes to bring down the overall housing prices by 10% for those costing above RM300,000 and 6% for affordable housing.