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Budget 2017 : 5 Important Highlights For Housing Sector ( You don’t want to miss this! )

1. Build around 10,000 houses in urban areas for rental to eligible youths with permanent jobs, including young graduates entering labor market for a maximum period of 5 years.

2.The rate of stamp duty on property transfers worth more than RM1 million, will be increased from 3% to 4% but effective only from Jan 1, 2018.

3.Stamp duty will be exempted for property transfers and housing loan instruments to help reduce the cost of first-time home ownership.However, this exemption is limited to homes valued up to RM300,000 for first homebuyers only, and for purchases between Jan 1, 2017, to Dec 31, 2018.

4. A new special “step-up” end financing scheme for the Perumahan Rakyat 1Malaysia (PR1MA) program effective January 1 next year. This scheme is a collaboration among the government, Bank Negara Malaysia, Employees Provident Fund as well as four local banks: Maybank, CIMB, RHB, and AmBank.Financing will soon be easier and more accessible with total loans of up to 90% to 100%.

5 .Introducing MyBeautiful New Home for the B40 (bottom 40% of households with monthly income of RM3.9k and below) with an RM200 million allocation. Kick-start with building 5,000 units (priced at RM40k to RM50k each). Government to finance RM20k with owners paying the rest in installments. Houses to be built on owners’ land; land permitted by the landowner; and land awarded by state governments.

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By | 2016-11-01T10:40:01+00:00 October 25th, 2016|Latest Article/News, Malaysia Budget, Videos|Comments Off on Budget 2017 : 5 Important Highlights For Housing Sector ( You don’t want to miss this! )