MALAYSIA PROPERY Capital Gains Tax Reintroduced
Property developers are up in arms back of the 5% capital gains tax for property to be reintroduced in 2010. The controversial tax was repealed in April 2007 back of measures to stimulate the economy.
Back of a large outcry from the private sector the new tax will only be applied to property investments made within 5 years from purchase to address speculation concerns.
Real estate in Malaysia has been gaining in popularity with overseas investors especially from Singapore and Hong Kong as bank debt is available and attractive rental yields in CBD markets such as Kuala Lumpur.