KUALA LUMPUR: The government do not expect housing prices to raise exorbitantly in 2016 on the back of numerous economic challenges, which also include the softening of the ringgit.
"So far, we have seen increases in housing prices but this has been on a single digit percentage and we expect the trend to continue in 2016 given the fact that we have implemented cooling measures since 2012," said Deputy Finance Minister, Datuk Chua Tee Yong at the 27th Asean Summit and Related Summits here, today.
He stressed however that the public will need to take consideration that housing pricing vary from region to region.
Chua had earlier participated in a closed door roundtable discussion between US-Asean Business Council and Malaysian International Chamber of Commerce and Industry (MICCI).
"Three main topics that were covered during the roundtable were ways for the government to reduce fiscal deficit in 2016, tax incentives for further trade and housing pressures," he said.
"We expect further trade between Malaysia and US will continue to grow in 2016, bolstered by the soft ringgit as well as continuous demand for electric and electronic (E&E)."