Experts call for tax on vacant and unsold homes

Free Malaysia Today

Such a tax could prevent speculation and push developers to build homes that meet actual needs, according to two researchers.  Read More: https://www.freemalaysiatoday.com/category/nation/2025/06/29/experts-call-for-vacancy-tax-on-vacant-and-unsold-homes  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #VacancyTax #HouseDevelopers #PropertyPrices

Transcript

00:00Housing experts have called for a vacancy tax to help tackle the rise of vacant and unsold homes

00:07and lower property prices by discouraging speculation.

00:11They said many affordable housing units are being held empty by owners or investors,

00:16making it harder for real buyers to find homes.

00:20Research associate KT Belakshmi said a vacancy tax can prevent speculation

00:25and push developers to build homes that meet actual needs,

00:28reducing oversupply and supporting more balanced housing development.

00:34She said that while some fear falling home prices or rents,

00:37market corrections like a vacancy tax might be exactly what is needed to make housing fairer and more stable.

00:45Meanwhile, Azri Othman Maidin, the Dean of University Science Malaysia's Housing, Building and Planning School,

00:51said a vacancy tax would reduce flipping and hoarding,

00:54especially for properties in the RM300,000 to RM500,000 range.

01:00Azri also proposed raising the real property gains tax for those who sell their units too early,

01:05saying this would make quick resale less attractive and help curb flipping.

01:09As of mid-2024, there were 22,642 overhang units worth RM14.24 billion,

01:16according to the National Property Information Center.

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