The property market in Malaysia is currently in a slump, and many are speculating why it is as such. Apparently, according to Ekonomi Rakyat, an analyst remarks that Malaysians are preferring landed property over high rises. Unfortunately for the consumers, developers are building condominiums instead of landed houses for more profitability.
Terrace houses vs condominiums
Netizens, for obvious reasons, are against the developers. They state that we should let them suffer in losses. They also state that it is an oversaturated market, especially in recent years. However, if the contrary happens, property prices may go up even more. There are some that state they do not mind condominiums, but it should be more affordable.
Some are stating that real estate flippers should get taxed at a higher amount, high enough to make it unprofitable for years to come. This is because, another reason why property is more expensive is due to this problem. Furthermore, the netizen adds that those who own more than two homes should be taxed more.
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