Budget

Malaysia’s Development Expenditure Declines Annually Despite Increased Budget Allocations, Says PM Anwar

Malaysia's Prime Minister, Datuk Seri Anwar Ibrahim, disclosed that the country's actual development expenditure (devex) has been consistently shrinking each year, despite incremental increases in budget allocations. Anwar made this revelation following a National Economic Action Council meeting, emphasizing that this decline in actual devex could pose a significant long-term impact on Malaysia's economic...

NCT Alliance Commits to Completing Abandoned Property Projects in Line with Government Initiatives

NCT Alliance Bhd has reaffirmed its dedication to ensuring the completion and delivery of homes to homeowners, aligning with the Malaysian government's initiatives to address the challenges posed by abandoned property projects in the nation. The commitment comes in the wake of Prime Minister Datuk Seri Anwar Ibrahim's announcement of a special financing guarantee of RM1 billion in Budget 2024 to tackle...

Johor’s Appeal to Investors Rises with Visa Liberalization and MM2H Relaxation

Budget 2024 brings exciting prospects for Johor's investment landscape, especially with plans to liberalize visas, including those for investors' employment passes in certain sectors. The relaxation of conditions under the Malaysia My Second Home (MM2H) program is set to bolster Johor's appeal to investors, not only from Singapore but also from various countries worldwide. Boosting Johor's Housing Sector:...

Budget 2024: Opportunities and Impact on Malaysia’s Real Estate Market

Malaysia's Budget 2024 has set its sights on optimizing subsidies, a move that is poised to have significant implications for the country's real estate sector. According to JLL's Malaysian 2024: Real Estate Key Highlights report, this budget aims to redirect resources towards development expenditure, ultimately supporting the nation's journey to becoming a developed nation. Key Highlights:...

4% Stamp Duty on Foreign Buyers in Malaysia Could Offset MM2H Relaxation Benefits

The 4% stamp duty imposed on foreign property buyers in Malaysia could potentially offset the positive impact of the relaxation of conditions for the Malaysia My Second Home (MM2H) program, according to Maybank Investment Bank. Maybank Investment Bank's research noted that while the eased MM2H conditions are expected to benefit the domestic property industry, the introduction of a flat 4% stamp duty on...

Budget 2024: MM2H Rule Relaxation and Infrastructure Projects to Counter 4% Stamp Duty Impact on Property Transactions

The property sector in Malaysia is set to weather the impact of a flat 4% stamp duty on memorandum of transfer (MOT) for non-citizens and foreign-owned companies in property transactions, thanks to several factors, according to MIDF Research. The research house has maintained its positive stance on the sector, citing expectations of a stable benchmark overnight policy rate for the year as a driver for...

Budget 2024: Property Industry Weighs Concerns and Aspirations

As Malaysia unveils its Budget 2024, key figures in the property market have expressed their thoughts. While appreciating the government's initiatives, several areas in the property sector, including affordable housing supply, property financing, and rental market regulations, were left unaddressed. Industry leaders emphasize the importance of these aspects for a comprehensive development plan. Tan Kian...

Budget 2024: Penang’s RM10 Billion LRT System to Foster Public-Private Partnership

Prime Minister Datuk Seri Anwar Ibrahim's Budget 2024 announcement showcased substantial infrastructure allocations. One standout is the Penang Light Rail Transit (LRT) system, projected to cost RM10 billion, which will be developed in partnership with the private sector. Additionally, RM4.7 billion has been earmarked for the resurrection of five LRT3 stations, strengthening the Klang Valley's public...

Budget 2024: A Comprehensive Guide to Housing and Development Initiatives

In the recently revealed Budget 2024 Madani, themed "Madani Economy: Empowering the People," the Malaysian government has earmarked a total of RM393.8 billion. This reflects a modest increase from the previous budget of RM388.1 billion, set in February 2023. One key highlight is the government's strong commitment to driving the New Industrial Master Plan 2030 (NIMP), with up to 10% of the total NIMP...

REHDA Malaysia Urges Government to Introduce Housing Incentives in Budget 2024 for Improved Affordability

The Real Estate and Housing Developers’ Association (REHDA) Malaysia has expressed its hope that the Malaysian government will reintroduce or introduce housing incentives to enhance homeownership opportunities for Malaysians. In its wish list for Budget 2024, REHDA emphasized the ongoing issue of housing affordability for both the public and the industry. REHDA called on the government to incorporate...

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