SST implementation is just around the corner and there goes our Holiday Tax period
But Who Say SST is Bad? House Prices Could Go Down to 10% Following SST Implementation
Just when you think when SST comes in, all prices will increase but think again as with SST, house prices would be cheaper up to 10% following SST implementation!
Why if you asked… This is because Finance Minister Lim Guan Eng has recently announced that construction materials such as bricks, sand, steel, and cement will be exempted from SST
With that in placed, price of house are expected to drop up to 10%. He added that the developers and buyers should be able to reap some benefits from this policy as the execution of SST is more efficient compared to GST
Further to the comments from Finance Minister, our Deputy Minister of the Ministry of Housing and Local Government also said that under the previous government’s administration, the main construction materials were subjected to GST and that had play a part in contributing to the increasing prices of property.
Based on the ministry’s rough estimation, it’s possible for a house price to drop between 5 per cent and 10 per cent. Deputy minister Datuk Raja Kamarul Bahrin also quoted
“However, land prices is one of the factors that can strongly influence the property prices,”
This is definitely one of the best news but a few netizens still remain sceptical as property prices have always been on the rise, and not the other way round.
What do you think of this dropping of housing price due to SST? Do you think it will happen?Tell us what you think in the comments!