News about budget

PETALING JAYA (Oct 5): The government will increase its allocation for affordable housing in Budget 2018 from RM700 million in the previous one as housing is one of the main concerns of the rakyat, said Minister of Urban Wellbeing, Housing and Local Government Tan Sri Noh Omar.

KUALA LUMPUR (Sept 29): While Mah Sing Group Bhd lauds the government’s continuous initiatives to encourage homeownership, the developer hopes for more flexible schemes for private developers’ projects to be announced in the coming Budget 2018.

SINGAPORE (Feb 20): Finance Minister Heng Swee Keat announced, with immediate effect, in his Budget statement today that the CPF housing grant has been raised to S$50,000 (RM157,144) for first-timer couples buying four-room or smaller HDB flats from the resale market.

Banking sector Maintain neutral: On Tuesday, Perumahan Rakyat 1Malaysia (PR1MA) announced that the Special PR1MA End-Financing Scheme for first-time house buyers announced in Budget 2017 will benefit at least 15,000 buyers.

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Property development sector Downgrade to neutral: Property sales recovered in the third quarter of 2016 (3Q2016) as six of the seven developers under our coverage registered 18% to 160% quarter-on-quarter sales growth.

Budget 2017, tabled by Prime Minister Datuk Seri Najib Razak on Oct 21, has a heavy slant towards improving the well-being of the ordinary rakyat, with particular emphasis on the middle and lower-income groups (M40 and B40).

KUALA LUMPUR: Rather than subsidising the cost of senior citizen living, property industry experts suggested that reverse mortgages could better help senior homeowners be more financially independent in their golden years.

PETALING JAYA (Nov 2): To increase the property purchasing power of Malaysians, industries have to work together to create a high-wage society, said a panellist during a panel discussion at Rehda (Real Estate and Housing Developers’ Association) Institute's Budget Commentary 2017.

PETALING JAYA (Nov 2): The government should consider setting aside 50% of the land near Mass Rapid Transit (MRT) stations for affordable homes, the Real Estate and Housing Developers’ Association Malaysia (Rehda) said, Bernama reported today.