It is understood that more clarity on the exemptions would be available once the service tax regulation is released in a month or so.

Measures seem to target the rich but are actually trying to ‘create a fairer, more equitable tax system’

“This is also in line with Pakatan Harapan government’s manifesto to increase homeownership.”

“FundMyHome.com democratises home ownership and stimulates the housing industry without any government expenditures or guarantees, and no additional debt burden for the banks or the households.”

The innovative and inclusive homeownership scheme developed by EdgeProp Sdn Bhd, brings together homebuyers, institutions and developers under one roof to improve the overall real estate ecosystem.

In a nutshell, FundMyHome allows a person to acquire a selected property for 20% of the price of the property, while the balance 80% will be fulfilled via potential investors who are interested to fund the acquisition in exchange for the potential appreciation in value of the property over a particular period of time.

Finance Minister Lim Guan Eng said that the ministry had spent some time to study the concept developed by EdgeProp Sdn Bhd in detail and found that it was workable.

Maybank and CIMB Bank are contributing as institutions to the 80% portion of the home price.

“Upholding quality is important, because it ensures that customers will have a good impression of you and always come back to you.”