Daily Market Report (1 Oct 2019)
- A lot has been said by the property related players in cutting the RPGT (Real Property Gains Tax) to improve the ailing property market.
- While this is deemed as a beneficial move, this will not improve the participation of first time buyers rather will encourage those with high speculative interests.
- To address the prevailing property overhang, it would require both the banks and developers to collaborate. For once, the developers may need to relook at their pricing while the banks should not be too stringent on their scrutiny of applicant especially for first time buyers.
