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...
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...
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...
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...
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...
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...
The Penang state government is optimistic that all projects earmarked for the state in the 12th Malaysia Plan (12MP) will proceed as planned under Budget 2024, set to be tabled on October 13. Chief Minister Chow Kon Yeow conveyed his expectation for the implementation of all the listed projects, emphasizing that there are no specific requests or special requirements from the state. Penang has secured...
Compare listings
Compare