UEM Sunrise to assess impact of SST waiver on property prices

Last update: 02/10/2018

KUALA LUMPUR, Oct 2 (Bernama) -- UEM Sunrise Berhad (UEM Sunrise), one of the country’s leading property developer, is currently assessing the impact of the sales and services tax’s (SST) exemption on building materials and services in order to lessen or maintain property prices. 

UEM Sunrise managing director and chief executive officer, Anwar Syahrin Abdul Ajib, said that property developers will still need to bear certain costs, such as development costs, premiums and land prices.

“All these costs contribute to the sale price. If we can economise from the SST, we also want to channel it to the buyers, but we need to look at costs.

“For example, development costs can increase up to 25 per cent and this will lead to increased costs,” he told the media after the announcement of a cooperation between UEM Sunrise and Grab Malaysia, here, today. 

On Sept 24, Finance Minister Lim Guan Eng said the government may review SST exemptions on building materials and services if developers fail to reduce house prices.