Previndran: Budget 2021 is comprehensive in creating property demand

KUALA LUMPUR (Nov 6): Real estate consultant and CEO of Zerin Properties Previndran Singhe lauded the Budget 2021 focuses on enhancing people’s spending power, hence creating property demands rather than giving out incentives to buyers or investors.

Commenting on property related measures announced in Budget 2021 this evening, Previndran told EdgeProp.my that it is a good Budget as it covered pain points on local businesses, which will create a healthy ecosystem of business and employment that fuel property demand.

Read other Budget 2021 news on EdgeProp.my/Budget2021  

“I have already moved away from stamp duty, RPGT (Real Property Gain Tax) or other property incentive. What we need is buyers and buyers come from [healthy] employment and business [environment].

“With incentives given to all the industries, this creates an ecosystem of business and employment, which will fuel [property] demand. Demand in real estate is a factor of supply of money,” Previndran shared.

He noted that Budget 2021 has covered the concerns of local businesses and focused on future businesses with tax incentives, as well as measures that could improve current business environment and infrastructure.

“All in all, I must say [the Budget is] comprehensive. Even the tobacco industry is addressed,” he noted.

He also emphasised that the “old school property incentives” are over and again would be flip flop.

“I found this budget has really addressed what the country needs... I like the incentives for businesses to establish themselves in Malaysia, focus on improving infrastructure for existing industrial estates, and of course, spending money to develop new infrastructure,” Previndran concluded.

Read other Budget 2021 news on EdgeProp.my/Budget2021  

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