HBA said the government needs to ensure that the homes reach the right target market.

“The key word and focus of this budget for me is the rental market.”

Although Budget 2018 doesn’t have any significant proposals for the property market, some of the proposals may indirectly offer opportunities to boost demand for houses.

The Budget “aims at empowering the rakyat, driving economic growth and promoting sustainable socio-economic developments simultaneously”.

But the institution feels the proposed Residential Rental Act is timely…

Budget 2018 shows that the government is doing their best to address the issues faced by the rakyat, but there were no major surprises announced, said property developers.

“Budget 2018 is putting more emphasis on affordable housing which could benefit low income earners.”

“Yes, we have several things in our wishlist but I understand that the Budget has to be a balanced one.”

Budget 2018 has failed to address the challenges faced by the current property industry, said PEPS.

“There were expectations of reducing the real property gains tax (RPGT) to further boost the industry.”