Jagdeep Singh Deo

KUALA LUMPUR (July 21): The Penang government is reviewing all charges currently imposed on developers to make property more affordable to consumers.

Bernama reported State Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh Deo saying that the state planning committee had decided on the review at the request of Penang Chief Minister Chow Kon Yeow.

"I have established a committee to conduct the review and is currently compiling the various charges being imposed," Jagdeep told the media after visiting Penang MAPEX 2018 today.

He said the charges inflated the prices of properties which would be borne by the consumer, “but upon review, is expected to fall”.

Jagdeep said that after compiling the charges, the committee would then consult the Real Estate and Housing Developers' Association Malaysia (Rehda) before making any decisions.

Also speaking at the same event, Rehda Penang chairman Datuk Toh Chin Leong said that according to the National Property Information Centre (Napic) 2017 report, the residential overhang in the state was “less encouraging”, as the numbers grew during the review period, reported Bernama.

He said developers are still “lumbered with a high number of unsold stocks”.

Toh also said that Rehda was thankful to the state authorities for assistance in promoting MAPEX 2018 by providing special incentives, such as the waiver of the levy on foreign purchasers, and the 2% levy on sub-sales within three years.

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