The Real Estate Housing Developers’ Association (REHDA) reports that property sales and enquiries have rose following the government’s liberalization measures to stimulate foreign ownership an investment in properties in a recent survey.

REHDA deputy president Datuk Michael Yam Kong Choy said the survey conducted between April 21 and May 8 this year, showed an 18% increase in property sales and 22% rise in enquiries.

The government measures, such as the exemption of real property gains tax (RPGT), removal of the limit of the number of properties loans allowed for non-residents and the lifting of Foreign Investment Committee approval, have made owning property easier.

Out of the incentives, those surveyed said the blanket exemption of the RPGT as the main contributor of improved sales as well as the bullish stock market and improvements in infrastructure and accessibility.