The government should continue reviewing the threshold in line with prevailing house prices and market conditions, says the Real Estate and Housing Developers’ Association.
The Real Estate and Housing Developers’ Association also hoped the government would continue to introduce measures to alleviate rising development costs, particularly in construction materials, labour and regulatory compliance.
These measures would help ease the upfront financial burden of aspiring homeowners, association president Zaini Yusoff said.
He said the association welcomed the expansion of stamp duty exemptions for first-time homebuyers for properties priced up to RM750,000, announced by the government in the 2027 budget.
Prime Minister Anwar Ibrahim said a full stamp duty exemption will be provided on the first RM500,000 and a 50% exemption on the remaining amount.
“We hope the government will continue reviewing the eligibility threshold in line with prevailing house prices and market conditions, including considering an extension of the incentives to properties priced up to RM1 million,” Zaini said in a statement.
Zaini also called for a review of charges imposed by the federal and state governments, including infrastructure, utility, statutory, regulatory and compliance charges.
He hoped the government would reconsider reviving the home ownership campaign, particularly to facilitate the sale of completed unsold houses while providing more Malaysians with opportunities to own a home.
The campaign, introduced in 2019, offered stamp duty waivers on loan agreements and instruments of transfer, a minimum 10% rebate and various freebies. The campaign ended on Dec 31 last year. - FMT
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