JLL: Budget 2021 encourages first home ownership

PETALING JAYA (Nov 6): Budget 2021 would help to encourage first home ownership, said JLL Property Services (Malaysia) Sdn Bhd country head YY Lau.

When tabling the Budget 2021 at Parliament today, Finance Minister Tengku Datuk Sri Zafrul Tengku Abdul Aziz said that the full stamp duty exemption to be given on instruments of transfer and loan agreement, for first time home buyers, is extended until 31 December 2025.

Read other Budget 2021 news on EdgeProp.my/Budget2021 

This exemption is applicable to sale and purchase agreements (SPA) inked from January 1, 2021 to 31 December 2025. Lau believed that the initiative in Budget 2021 could help to boost transaction volume of residential units.

"Meanwhile, a total of RM1.2 billion has been allocated for the provision of comfortable and quality homes for the low-income groups. This would make low cost houses safer and provide the residents better living conditions," she added.

Of the RM1.2 billion, RM500 million would be used to build 14,000 PPR units, RM315 million will be used for the construction of 3,000 Rumah Mesra Rakyat, RM310 million has been allocated for civil service homes, while another RM125 million is set aside for the maintenance of dilapidated low-cost homes.

Government would also work with selected financial institutions to offer rent-to-own schemes until 2022 for 5,000 PRIMA housing, targeting first time home buyers.

Read other Budget 2021 news on EdgeProp.my/Budget2021  

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