Demand And Supply To Dictate Malaysian Property Markets Course Post GST Oct 02, 2014 PETALING JAYA -- Property investment coach and author, Milan Doshi foresees a gestation period of up to six months following implementation of the Goods and Services Tax (GST) before demand and supply in Malaysias property market dictates its next direction. He expects the property market to temporarily go very quiet post the GSTs implementation, with no increase of six per cent in prices as rumoured. If there are no buyers or the numbers are lacking, developers will have to reduce prices. So, there could also be a buying opportunity after the GST implementation, he said after a briefing on the upcoming Property Investment Summit and Expo (Prism) 2014 here Monday. Meanwhile, Dr Dolf de Roos, who wrote the best seller, Real Estate Riches and 52 Homes in 52 Weeks said based on his experience in 13 countries, it would take a while for the market to absorb and react to the GST. But after six months, the GST impact will be a non-event. Price wise, it could have minimal impact and the challenge is more on the filling of forms and compliances. The six per cent immediate increase as rumoured cannot be true, as some developers may absorb the GST cost, so as not to lose out in terms of competition, he said. Dolf said the Malaysian property market is now at a potential point of inflection. It could either go up a little or down a little. But expect no massive correction or surge. Definitely after some time, the GST would be a non-issue to the property market as the population increases and new demands emerge, he added. Earlier, the Prism 2014 organiser, Armani Media Sdn Bhd Chief Executive Officer, KK Chua, said more than 15,000 people are expected to visit the two-day expo with 2,500 participants attending the seminar being held in conjunction with it. The event begins on Nov 1 at the Malaysian International Exhibition and Convention Centre in Seri Kembangan, Selangor. The Summit will feature discussions on topics involving the property market outlook, a post budget analysis, impact of the GST and investment strategies. -- BERNAMA
Posted on: Thu, 02 Oct 2014 05:21:13 +0000
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