Datuk Seri Reezal Merican Naina Merican: With the “Keluarga Malaysia” concept in mind, the RM332.1 billion Budget 2022 has taken a holistic approach that is inclusive and aims to create greater economic impact to all

President Datuk Soam Heng Choon: Under the current soft market conditions, we welcome the government’s move for the removal. We hope that this measure will help invigorate our property market to make it more resilient and eventually translate into a positive multiplier effect on the economy.

They appreciate the availing of a government guarantee of up to RM2 billion to banks under the Housing Credit Guarantee Scheme.

Finance Minister Tengku Datuk Seri Zafrul Aziz: There will be a special initiative to assist Bursa Malaysia-listed companies, which will see the injection of funds into companies that have been affected by the Covid-19 pandemic via a government-owned special purpose vehicle (SPV), in the form of equity or other related instruments

President Tan Sri Sufri Mhd Zin: MBAM was expecting a more uplifting 2022 Budget announcement for the construction industry. Disappointingly, there was no announcement of new mega infrastructure to prime the revival of the Malaysian construction industry.

KGV International Property Consultants (Johor) Sdn Bhd executive director Samuel Tan: Apart from the abolishment of the RPGT for properties held from the sixth year onwards, there was hardly any good news for the property market

RHB Research Institute senior analyst Loong Kok Wen said the proposed waiver of the real property gains tax (RPGT) on property owners who sell their properties after the sixth year is a good step but may not be enough to stimulate the property market as a whole

The real property gains tax (RPGT) will not be applied for properties sold after the sixth year

This is nearly 3% more than the RM322.5 billion announced for Budget 2021.

Mean salaries and wages declined 9% to RM2,933 from RM3,224 in 2019, relegating many households’ incomes in the middle 40% (M40) category to bottom 40% (B40).