News about Budget

PETALING JAYA (Nov 2): It would make more sense for the government to increase the Real Property Gains Tax (RPGT) rates within the first five years instead of imposing a 5% tax rate for Malaysian individuals after the fifth year, said the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS).

PETALING JAYA (Nov 2): The National House Buyers Association (HBA) has urged the government to take measures to slow down escalating property prices by raising the supply of homes in the affordable housing segment through  government-linked corporations, state economic agencies and  bodies such as Perbadanan PR1MA Malaysia (PR1MA).

PETALING JAYA (Nov 2): The Institute for Democracy and Economic Affairs (IDEAS) senior fellow Dr Carmelo Ferlito has applauded the commitment made by the Real Estate and Housing Developers’ Association Malaysia (Rehda) to reduce house prices by 10% for new projects that are not subject to price control, which was announced in Budget 2019 today.

PETALING JAYA (Nov 2): The Malaysian Institute of Estate Agents (MIEA) has described Budget 2019 as a budget with “more answers than questions”.

PETALING JAYA (Nov 2): The Securities Commission Malaysia (SC) said the Budget 2019 has identified key priorities to support the transition of the Malaysian economy towards a more balanced, sustainable and inclusive growth.

KUALA LUMPUR (Nov 2): Malayan Banking Bhd (Maybank) sees the property sector as the biggest winner of Budget 2019, with a variety of measures ranging from specific allocations for supply – financing of first-time purchases – of affordable housing, as well as stamp duty exemptions and property crowdfunding to help the industry clear the supply overhang, placing it on a path to sustainable growth.

     PETALING JAYA (Nov 2): The Budget 2019 is a mixed bag as far as the housing sector is concerned, said RHB Research Institute senior analyst Loong Kok Wen.

PETALING JAYA (Nov 2): Kenanga Head of Equity Research Sarah Lim (pictured) said it will be interesting to know how the current government will monitor the selling prices of new houses.

  PETALING JAYA (Nov 2): A property consultant expects a more active real estate transaction now till year end to avoid additional Real Property Gains Tax (RPGT) charges.

PETALING JAYA (Nov 2): The Real Estate and Housing Developers’ Association Malaysia (Rehda) President Datuk  Soam Heng Choon (pictured) has lauded the government’s initiative in introducing a new technology-based mechanism –property crowdfunding, to encourage homeownership.