The secondary market contributes more than 80% of total residential property transactions and the removal of this tax (RPGT) would help spur the sub-sale economy and trigger more demands down the supply chain,” said said Datuk Seri Koe Peng Kang, president of IFIABCI Malaysia

“It's superb that the proposal to abolish the RPGT on homes disposed of on the sixth year onwards by Malaysians and permanent residents in the country has been approved.,” said Zerin Properties CEO Previndran Singhe.

Another property sector-related measure deemed positive is an allocation of RM1.5 billion for housing projects for the lower-income group.

It is a good step but may not be enough to stimulate the property market as a whole, said one of the industry observers.

There is no exciting measure that can spur market buying interest.

President Michael Kong said PEPS’ budget wish lists to the government did not materialise except for the proposed waiver of Real Property Gains Tax (RPGT) on homes disposed of in the sixth year onwards

“We commend the government’s extensive effort in considering every level of the property industry including the secondary market."

Airbnb Southeast Asia head of public Policy Mich Goh: Looking ahead, Airbnb hopes to see the expansion of ongoing initiatives, and implementation of new incentives for the short-term residential accommodation industry, which continue to play an essential role in contributing to Malaysia’s tourism economy

Group managing director Foo Gee Jen: The government should probably at least provide a stamp duty waiver for the first RM300,000 of the housing price, for example. This will help ease the burden of those in the B40 and M40 income groups

Dr Yeah Kim Leng: This is good for those who have just started their careers and this scheme will allow them to have access to the housing loan earlier