PETALING JAYA — The stamp duties on property sales and purchase agreements (SPA) for properties priced up to RM1 million and for loan agreements of up to RM2.5 million that come under the National Home Ownership Campaign 2019 (HOC 2019) will be waived, Finance Minister Lim Guan Eng announced today.…
KUALA LUMPUR — The number of unsold homes in Malaysia has more than doubled, reaching a new high of 30,115 homes as at the third quarter of 2018 (3Q18). According to the National Property Information Centre (NAPIC), as of 3Q18, 30,115 unsold homes amounted to RM19.54 billion, a year-on-year increase…
KUALA LUMPUR — Real Estate & Housing Developers’ Association Malaysia (Rehda) president Datuk Soam Heng Choon said the property mantra of location, location, location no longer holds true these days, having overtaken by location, pricing and type. He said this while addressing the media at the launch of Bank Negara…
KUALA LUMPUR — Tycoon Tan Sri Danny Tan Chee Sing, founder and major shareholder of Tropicana Corp Bhd with a 63.56% stake, is back at the helm of the property developer as executive vice chairman after a three-and-a-half-year hiatus. Tan, 62, had announced his retirement from the day-to-day management of…
PETALING JAYA — IJM Land Bhd and Amona Development have joined hands to support the government’s initiative, Rumah Mampu Milik Wilayah Persekutuan (RUMAWIP) by developing Suria Pantai, a housing project with an affordable price of RM275,000. According to IJM Land Bhd senior general manager Datuk Hoo Kim See, Suria Pantai…
KUALA LUMPUR — Bank employees will soon enjoy 0% interest in their housing loans for the first RM100,000. All member banks under the Malayan Commercial Banks’ Association (MCBA) have agreed to grant the benefit, effective April 1. The benefit was offered in the new collective agreement (CA) inked by MCBA…
KUALA LUMPUR — Sentiment in Malaysia’s property market is expected to improve in 2019, especially the residential property market, as policies announced under Budget 2019 are expected to strengthen demand, particularly among first-time home buyers, said property advisor Knight Frank Malaysia. “The property market in Malaysia experienced a pick-up in…
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,…
PETALING JAYA — First-time homebuyers will be fully-exempted from paying stamp duty for properties up to RM1mil from Jan 1, says the Finance Ministry. Finance minister Lim Guan Eng said the move was primarily to increase home ownership as well as to stimulate the sluggish residential real estate market that…
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…
