Owning a comfortable home are top on the most wish list from the people, this largely due to the constant increased house prices for past few years. Price of most houses in the cities has been double or treble since then.
As part of the effort in reducing the speculative activities in the property market, it was proposed under Budget 2014 that the real property gains tax (RPGT) will be revised as table below:
| REAL PROPERTY GAINS TAX FOR 2014 | Tax Rates | |
| Personal (citizen & PR) | Company | |
| Disposed within 3 years | 30% | 30% |
| Disposed in 4th year | 20% | 20% |
| Disposed in 5th year | 15% | 15% |
| Disposed after 5 years | 0% | 5% |
For non-citizen, disposal within 5 years is subject to a flat RPGT of 30%. Disposal after 5 years, RPGT is at 5%.
The RPGT rates increase is applicable to disposal of property taking place on or after 1 January 2014.
Property disposed off during the year 2013 will be subject to the RPGT rates as shown at table below:
| REAL PROPERTY GAINS TAX FOR 2013 | Tax Rates | |
| Personal (citizen, PR & non-citizen) | Company | |
| Disposed within 2 years | 15% | 15% |
| Disposed after 2 & up to 5 years | 10% | 10% |
| Disposed after 5 years | 0% | 0% |