UPDATE Rehda: Property prices to drop with zero GST
GST accounts for 2% to 4% of property development cost, says Rehda.
GST accounts for 2% to 4% of property development cost, says Rehda.
Prices will drop, especially for commercial properties since the 6% tax will be “zerorised”.
It should also rightfully reduce the price of residential properties until the new Sales and Services Tax mechanism kicks in.
However, it is unclear if the government will revert to the previous sales tax mechanism.
"Hopefully, with GST out of the way, sentiment of the public will be better..."
GST accounts for 2% to 4% of property development cost, says Rehda.
“We have calculated that the cost of GST is 3% of our sales price. Therefore we are reducing our sales prices at Hillcrest Heights by the same amount, that is, 3%,” said Hillcrest Gardens executive director Frank Goon.
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