SST: Penang Rehda announces lower home prices

11 September, GEORGE TOWN – Welcoming the government’s decision to exempt building materials from the Sales and Service Tax (SST), the Penang chapter of the Real Estate and Housing Developers Association ( Rehda) today announced six and 10 per cent discount on house prices.

Penang Rehda chairman Datuk Toh Chin Leong said prices of houses costing RM300,000 and above will cost 10 per cent less, backdated to Sept 1.

“Apart from this, we are also offering a discount of six per cent for houses costing below RM300,000 and is applicable to existing projects or new ones, he told a press conference here today.

Also present was Finance Minister Lim Guan Eng.

Toh said the abolishing of the Goods and Services Tax (GST) which was introduced by the previous Barisan Nasional government and tax exemption for building materials under the SST, introduced by the new Pakatan Harapan government was good news to Rehda.

Meanwhile, Lim said he lauded the move by Penang Rehda and hoped others will follow suit (in lowering house prices).