Liew Siew Pen provides a brief roundup of the 2017 Budget features affecting the housing industry
Malaysia Budget 2017 has successfully been tabled by the Prime Minister Datuk Seri Najib Tun Razak. For the housing industry, there are several innovative measures, including the “step-up” end financing scheme and exemption of stamp duty, which will be implemented as part of the initiatives to promote home ownership. Stamp duty on instruments of transfer for properties costing RM1,000,000.00 and above will also be increased from the current rate of 3% to 4% in curbing speculative buying.
The key elements of the Budget affecting the housing industry are summarised below: