To reduce the high number of unsold condominiums and apartments amounting to RM8.3 billion in the second quarter of 2019, the Government will lower the foreign buying threshold for condominiums and apartments in the urban areas from RM1 million to RM600,000 in 2020.
Through this scheme, RM10 billion financing will be provided by financial institutions with the government’s support through a guarantee provision of 30% or RM3 billion.
Home Ownership Campaign. To date, approximately 21,000 homes worth RM13.44 billion were successfully sold under this campaign which exceeded the initial sales target of RM3 billion.
Bank Negara Affordable Housing Fund. As at September 2019, a total of 2,840 applications amounting to RM472.7 million were received. The approval rate is 77.9% with 982 total applications worth RM 156.2 million are approved.
To promote tourism, the MOF will continue to grant 50% of the tourism tax revenue to the state governments.
Strategy 8: Inclusive Development - Provision RM10.9billion for rural development.
Those in the rural areas of Sarawak and Sabah will not be left out of the National Fiberisation and Connectivity Plan. Some RM250 million will be spent on the two states alone, which will include providing rural areas with satellite internet connection.
RM70 million allocation for housing for new generation of FELDA settlers
Qualified electrical and engineering companies will be offered 10-year tax breaks and other incentives.
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