While the property market is expected to remain challenging in 2019, for those looking to buy a home for their own stay, it may be a good time to buy as sellers are more flexible with their asking prices while developers are offering attractive packages with freebies and other incentives.…
KUALA LUMPUR — The government has agreed to exempt the real property gains tax (RPGT) to individual Malaysian citizens who dispose of their properties at a consideration price of RM200,000 and below. According to a statement by Finance Minister Lim Guan Eng, the RPGT exemption, effective from Jan 1, 2019,…
KUALA LUMPUR — The increase of one percent in stamp duty for the instrument of transfer for property exceeding RM1 million to RM 2.5 million is now effective July 1, 2019. In a statement today, the Finance Ministry said the government would maintain the current stamp duty rate for six…
KUALA LUMPUR — The Real Property Gains Tax (RPGT) valuation on property would only be calculated from the year 2000 onwards, says Finance Minister Lim Guan Eng. He said that this is done to give clarity on the issue following feedback from concerned property owners who have bought and owned…
With Malaysia’s median household income of RM5,228 in 2016, RM188,208 should be the maximum affordable house price, when utilising Demographia International’s Median Multiple (MM) method in which homes are considered affordable only if it is less than three times the household median annual income. This is a level which Malaysia…
KUALA LUMPUR — The stamp duty waiver on the instrument of transfer for first time home buyers announced in Budget 2019 will provide a boost to the current slow housing market, said Knight Frank Malaysia managing director Sarkunan Subramaniam. “The exemptions and initiatives, in particular the waiver of stamp duty…
KUALA LUMPUR – The Securities Commission Malaysia (SC) said today it is supportive of innovative ideas that tap into the transformative power of technology to democratise investments, allowing more financing options for Malaysians to buy their first homes and enhance their socio-economic well-being. In a statement today, the regulator said…
HULU LANGAT – The Employees Provident Fund (EPF) and its members will be allowed to put in their money in privately driven property crowdfunding platforms, which iss an additional financing option for first-time house buyers. Prime Minister Tun Dr Mahathir Mohamad said EPF members for example, would be allowed to…
SEMENYIH – The FundMyHome scheme allows institutions to contribute to society by assisting Malaysians to own a home, said Maybank and CIMB Group. The first-in-the-world homeownership scheme developed by EdgeProp Sdn Bhd, it allows homebuyers to pay only 20% of the price to own a home, while the balance 80%…
KUALA LUMPUR – Bank Negara will be setting up an RM1bil fund to finance the first house purchase for those with a monthly income not exceeding RM2,300. Finance Minister Lim Guan Eng said the fund would be provided from Jan 1 2019 to purchase affordable houses priced at up to…
