commercial real estate investors

Survey: Property Sales, Enquiries Increase

KUALA LUMPUR, May 15 (Bernama) -- A survey by Real Estate and Housing Developers' Association (REHDA) shows that property sales and enquiries rose following the government's liberalisation measures to stimulate foreign ownership and investment in properties. "The survey, conducted between Apr 21 and May 8 this year, showed an 18 percent increase in property sales and 22 percent rise in enquiries," REHDA deputy president, Datuk Michael Yam Kong Choy, said at a media briefing to release the survey result. He said the measures included exemption of real property gains tax (RPGT), removal of the limit of the number of property loans allowed for non-residents and the lifting of Foreign Investment Committee approval. "Of the incentives, respondents credited the blanket exemption of the RPGT as the main contributor of improved sales.