While welcoming the 25% discount off stamp duty on memorandum of transfer (MOT) for properties between RM500,000 to RM1 million for first time homebuyers, the Malaysian Institute of Estate Agents (MIEA) is of the view that the move “will not create a boost in transactions for the sector”.
The Real Estate and Housing Developers’ Association of Malaysia (Rehda) has appealed to the government to consider extending the 75% stamp duty exemption to all buyers and not just first-time house buyers.
Buyers of houses priced between RM500,000 and RM1 million will enjoy an increase in stamp duty exemption from 50% to 75% until Dec 31, 2023.
BON Estates’ #BonWithYou promotional campaign that ran from Aug 16 to Sept 18 involving the deployment of a ‘Kombi Van’ style to different parts of the Klang Valley drew in the crowds.
Noting its rising popularity as a residential refuge, Exal Group, a property developer based in Western Australia, is set to inject new life into the Kuching property scene with its upcoming project dubbed SÓL Estate.
“When you see sales brochures saying the development has low density, exclusivity, private lifts, zen gardens, etc, what does it all mean? Basically, low density means fewer owners, so is it practical to maintain this property with this small number paying? Are you prepared to pay to be in an exclusive development?”
The Budget 2023 is seen as a pre-election budget, and the government is expected to take positive steps with measures to boost the property market, which has ailed along with the Covid-19 pandemic.
Noteworthy:
When: July 2022 (Unit 60-3), September 2022 (Units 60-4 and 60-5)
The top foreign buyers of condos in the city state are Chinese citizens.
MCC Overseas (M) Sdn Bhd (MCC Malaysia) has obtained an 89% Quality Assessment System in Construction (QLASSIC) score for the construction of The Face 2 Platinum Victory Suites, the highest rating recorded in history under the high-rise residential category since the system was introduced in 2007.
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