I must have been on mars. Property tax may be abolished???

Anyway, gotta say that if Malaysia is heading the way it seems to be economically, then its highly likely homeowners with large debt may opt to sell out but it does depend on each persons individual situation.

I agree with dreamer on the fact that many malaysian stretch themselves monetary wise. Financial management and economics really ought to be taught as a subject in school...

Just keep an ear and eye on the news to monitor how the G is handling everything (read between the lines people!), watch general public reaction, business trends and all.

I know MAS offered pilots a raise on conditions which would affect the seniority system that is in place (meaning a pilot working 20 years wont really be better than a pilot working 5 years) and they rejected it >< If some companies offer raises to help their employees stay above economic decline then maybe the entire situation wont be so dire thus properties wont be discarded quite so fast and desperately.

At this point, speculating is all we can do... We should get a much clearer picture in a few months if not sooner.

Ohhh the Property Gain tax... Yeah that has been abolished since april last year. That I knew and the plus point I saw for that was people who wanted to 'flip' houses profited more.

All I can say in light of possible economic decline linked to RPGT is that homeowners who cant keep up with payments will be able to sell their homes at a greater profit if they aren't able to continue loan payments.

*shrugs* if people opt to sell their homes then long term investors profit. I cannot say for certain how property sales will go cuz I don't remember how the market was after 1997... I assume it will be close to the same if the economy does slowdown like that time...