- Buyers may adopt a wait-and-see approach in deciding to buy properties in the first half of next year with the implementation of GST
JOHOR BARU: Buyers may adopt a wait-and-see approach in deciding to buy properties in the first half of next year with the implementation of Goods and Services Tax (GST) next April, a property developer said today.
Sunway Bhd’s Executive Director for Property and Construction, Southern Region and Singapore, Tan Wee Bee said property buyers would likely take that stand as they await the impact of this initiative on the market.
“We are currently assessing the impact. We do not know what and how much the impact would be on the market, however as for now, we think it will be minimal.
“As usual, every time there is policy implementation, buyers will likely take a wait-and-see approach,” he told reporters after the introduction of Sunway International School (SIS) Sunway Iskandar, Nusajaya, late Thursday.
Tan was responding to a question on whether the property market would be affected with the implementation of the GST next year as well as the removal of oil subsidies.
He said property developers were well-versed with the changes happening in the market and would continue to adopt the right strategy in line with the changing trends.
“I wouldn’t say it will be rosy next year but it will be challenging. However, property developers will have their own strategy moving forward and their way to differentiate themselves from the general market and basically to continue to perform next year,” he added.
At the end of the day, Tan said the property developers would continue to develop products according to market needs.
On SIS Sunway Iskandar, he said residents in Iskandar would have the privilege of world-class education which would in turn shape the holistic lifestyle of the community.
Scheduled for its first intake in 2017, SIS Sunway Iskandar will be the only school in Iskandar to offer the Canadian (Ontario) curriculum.