M'sian home prices propped up by GST, weak ringgit and hefty compliance costs

Kuala Lumpur

AMID Malaysia's soft economy, property prices have moderated on reduced demand but a home remains out of reach for many people because a new consumption tax, the devalued ringgit and hefty compliance costs continue to keep prices high, developers say.

Even the collapse in global oil prices to nearly a third of the US$115 per barrel high has offered no relief although oil inflation was previously blamed for the jump in building costs.