Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia president Subramaniam Arumugam said that for a start, the home ownership campaign for the primary and secondary markets should be relaunched. Subramaniam, who was speaking at the 15th Malaysian property summit here, said the real property gains tax should also be reduced while the Malaysia My Second Home programme should be revisited.
This, he added, would also be a boost for sellers looking to dispose of their property.At a press conference later, Subramaniam said China’s reopening on Jan 8 had raised hopes of a return of Chinese real estate investments to Malaysia. He said the 2021 decision by the government to reverse its policy that tagged visa with home purchases had damaged the country’s reputation in the eyes of foreign investors, particularly the Chinese.