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PETALING JAYA: The federal government and Malaysian Bar Council should take a leaf from Singapore’s book and liberalise fee guidelines for the conveyance of property titles, said the Real Estate and Housing Developers’ Association Malaysia (Rehda).
Highlighting Singapore’s actions, which came into effect on Oct 1, 2009, Rehda urged the government to examine Singapore’s model and abolish the Solicitors Remuneration Order so that Malaysia can compete internationally and grow competitively.
“In line with the government’s move towards a liberalised market, we believe that the abolishment of the scale legal fees under the Order will have a positive impact on the housing and property industry as a whole,” said Rehda president Datuk Ng Seing Liong.
“Such a move could help lower the cost of acquisition and spur greater buying interest in the market,” he said.
Ng added that it was high time that solicitors and clients were allowed to negotiate freely on a legal fee that is fair and responsible without being governed by regulations and orders.
