News about budget

The government announced individual tax relief for housing loan interest payments to encourage first-home ownership.

These include RM200 million for maintenance of the low cost public housing.

While HBA supports the tax relief for first home buyers, HBA feels that such an incentive should also be given to all existing homeowners with outstanding housing loans as this will benefit more rakyat which have been burdened for the past years.

The association is particularly concerned on how to improve supply chains and ensure the availability of key construction materials in 2025 as this is expected to help stabilise building costs and enhance project viability across the board.

An Invest Malaysia Facilitation Centre–Johor (IMFC-J) is in progress to facilitate investments in JS-SEZ and reduce bureaucracy in expediting approvals.

Juwai IQI co-founder and group CEO Kashif Ansari: “For the real estate market, the doubling of the special grants is a positive factor that will improve accessibility, increase property values, attract new development, and drive higher economic growth and quality of life.

To encourage homeownership, first-time homebuyers will enjoy tax reliefs up to RM7,000 for the first three years.

“The continued allocation of RM10 billion for 20,000 rakyat through SJKP will definitely benefit potential homebuyers without monthly income statement.

The programme, which was slated to expire on Dec 31, 2024, enables electricity consumers to generate their own solar power and offset it against their consumption on a one-to-one basis.

The proportion of development expenditure to the transportation sub-sector under Budget 2025 could be “reasonably higher” than the 21.