Stamp Duty

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...

Hong Kong to Announce Reduced Stamp Duties for Certain Property Transactions

Hong Kong is anticipated to announce reduced stamp duties for certain property transactions in its annual policy statement. Chief Executive John Lee revealed that the focus would be on stimulating the economy and improving livelihoods. In the property market, Lee is expected to trim stamp duties for some transactions, although not all. The business community and homeowners have been calling for a rollback...

REHDA Calls for i-Miliki Exemptions to be Extended to All Malaysian Homebuyers

The Real Estate and Housing Developers' Association (REHDA) Malaysia has expressed the opinion that i-Miliki exemptions should be extended to all Malaysian home purchasers, rather than just first-time homeowners. Datuk NK Tong, president of REHDA, stated that many homeowners who wish to upgrade or have received property as inheritance are unable to benefit from the i-Miliki exemptions. "The incentives...

MOF Extends Stamp Duty Exemption for First-Time Homebuyers in Government’s Latest Move

First-time house buyers will continue to enjoy a 100 per cent stamp duty exemption for purchases not exceeding RM500,000 via the Malaysian Home Ownership Initiative (i-Miliki) as provided for under Budget 2023, said the Finance Ministry (MoF). It said a 75 per cent stamp duty exemption will also be given for first-time home ownership for houses priced at between RM500,000 and RM1 million under the...