Wishes remain wishes but some wishes do come true. Let’s see what wishes the industry wants to send to the government:
Q: What would you like to see in Budget 2021 for the property market?
“A bigger deficit budget from the government to spur the economy. But don’t see much can be tweaked further in Budget 2021 as most of the wishes are repeat requests made during the MCO for the government to consider.”
“The release of inner city land to the private sector based on meritocracy and transparency, and not to cronies. Ensure inner-city developments especially those with TOD potential and to provide affordable housing.”
“I would like to see the HOC stamp duty incentives to be extended to also include secondary property market. The house buyers when choosing what to buy, should be given a fair choice to choose between new project and sub-sale property.”
“The removal or postponement of the Real Property Gains Tax (RPGT) would be very good to move the property market. But lately, the proposed Residential Tenancy Act has set off alarm bells in the property market. Stakeholders have voiced out at length about the negative implications on the property market.”