Adverse effects from new tax unlikely said economist

By Hakim Hassan
hakim@thestar.com.my

StarProperty.my FairPETALING JAYA: The implementation of the latest Sales and Service Tax (SST) which would replace the already repealed Goods and Services Tax (GST) in September is unlikely to have a negative impact on the property market, according to IQI chief economist Shan Saeed.

“The new tax would not make a significant impact on the real estate market. If you recall GST was implemented on April 1, 2015, the market was very solid and continued to remain strong despite many experts calling the property market to collapse and heading for a bubble.  

“In my opinion, there is no bubble in the real estate market in Malaysia. The bubble happens when the land prices are crashing. At IQI Global, we continue to stay buoyant on the Malaysian economy and positive on the real estate market. Old Klang Road is the new trophy investment for sophisticated investors to closely scrutinise in the real estate market,” he said.

StarProperty.my Agent Fair + Forum.

StarProperty.my Agent Fair + Forum.

As part of the StarProperty.my Fair happening at Sunway Pyramid tomorrow, the online property platform has invited speakers to enrich the experience for the visitors. The wide variety of topics would range from investment, taxation to home inspecting and even Feng Shui as speakers from multiple types of disciplines within the real estate sector would be invited to share their insights.

Speakers would include IQI chief economist Shan Saeed, Propedia Consultancy principal Vicky How, Messrs A.Chong and Co advocate and solicitor Alfred Chong, among other esteemed speakers invited for the event.

Shan would be presenting on the post general election scenario, the economic outlook for this year, the impact of the global economy which includes the implications of the trade war impact between China and US; and what tangible assets are investors are investing.

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IQI chief economist Shan Saeed

“We are living in tempestuous times, and sophisticated investors should be very cautious while investing their precious funds for future investment,” he said.

Another speaker, MyC Tech Sdn Bhd chief executive officer Akmal Nizam would be presenting on maximising on rental to change from conventional monthly rent to daily rental and deploy the right strategy to generate income.

StarProperty.my Fair is happening from 10 August to 12 August featuring developments from reputable developers for young families and potential housebuyers; esteemed speakers talking about the multiple facets of topics within the industry; and also fun and games for the whole family to enjoy.

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