fbpx

Budget 2021 Highlights For Property Market – More positive

This is the budget 2021 highlights for Property Market. I personally think that people who are still with stable income already grabbing the good deal for their home.
Budget 2021 Highlights For Property Market (1)

Budget 2021 for Property Market (mostly targeted at first-time home buyers)

01

Budget 2021 • Stamp Duty Exemption

  • Full stamp duty exemption on both instrument of transfer and loan agreement for the purchase of first house worth up to RM500,000 to encourage home ownership among the people.
  • From January 2021 to December 2025

Budget 2021 Highlights For Property Market (1)
Budget 2021 - Stamp Duty Exemption

02

BUDGET 2021 • THE EXTENSION

  • The extension of the stamp duty exemption on loan agreement and MOT given to rescue contractors and original buyers of abandoned houses for another five years.
  • This exemption is effective for the loan agreements and MOT executed from January 2021 to December 2025 for abandoned housing projects certified by the Ministry of Housing and Local Government (KPKT)

Budget 2021 Highlights For Property Market - More positive 1
Budget 2021 - The extension

03

BUDGET 2021 • PROVISION FOR THE CONSTRUCTION

RM1.2 billion provision for the construction of comfortable and quality housing for low-income earners:

  • RM500 million for 14,000 PPR units
    • RM500 million will be set aside to build up to 14,000 units of People’s Housing Projects (PPR) homes.
    • They are at Jelutong (northeast district), Jalan Mayang Pasir (southwest district), Ujung Batu (north Seberang Perai), Kampung Tongkang (central Seberang Perai) and Batu Kawan (south Seberang Perai) – totalling 72.3 acres.
  • RM315 million for 3,000 Rumah Mesra Rakyat
    • RM315 million for 3,000 units of Rumah Mesra Rakyat built by Syarikat Perumahan Negara Bhd (SPNB);
  • RM125 million to repair dilapidated low-cost homes
    • RM125 million for maintenance of low and medium-low cost strata-housing and also for upgrading of old houses and those damaged by natural disasters;
  • RM310 million for civil service homes
    • RM310 million for Malaysia Civil Servants Housing Programme (PPAM)

Budget 2021 Highlights For Property Market - More positive 2
Budget 2021 - The provision for construction

04

BUDGET 2021 • RENT-TO-OWN SCHEME ABOVE 1 BILLION

  • Government to work with selected financial institutions for a rent-to-own scheme involving 5,000 PR1MA homes
    • The plan will be implemented until 2022 and will involve 5,000 PR1MA houses with a total value of more than RM 1 billion and will be reserved for first-time home buyers.

Budget 2021 Highlights For Property Market (4)
Budget 2021 • Rent-to-own scheme above 1 billion

  • In order to boost the economy, the 2021 Budget seems to be significantly increase development spending, and infrastructure and construction companies will benefit.
  • At the same time, infrastructure plans can bring multiple effects and accelerate economic recovery.
  • Alliance DBS research pointed out that in the 2021 budget, the government will more actively allocate more funds in the field of infrastructure, repeat the measures taken during the economic crisis in 2008, and promote economic recovery with high-multiplier infrastructure plans.

Cheston Choo Meridin Top Project Sales Champion
Buying property? FREE CONSULTATION with Cheston Choo

I believe that as we move forward, there are more opportunities, but so far, here is some good news, especially for the target group.

1. Budget 2021 • Stamp Duty Exemption Likely To Boom

First home buyers whose purchase price is less than RM500,000 will be fully exempted from stamp duty on the Memorandum of Transfer (MOT) and loan agreement.

This is valid for agreements signed from January 2021 to December 2025.

If this does not attract first-time buyers to buy, I am not sure what else.

Maybe the down payment of 10% is the main issue as for RM500,000 is still RM50,000 needed. 

So, beside the 10% down payment, how much we can save from the stamp duty exemption?

Stamp Duty Calculator
Click the image to use the calculator

For RM500,000 stamp duty which is enough for two iPhone 12… Or down payment for Proton X50…

2. Budget 2021 • Rent-To-Own Sheme

I think this is a very important measure, many may want to buy a home without down payment at the moment.

With this scheme, buyers can start to rent the property first when they found their “home sweet home”, then proceed to buy later as increment of salary may fetch after years.

Cheston Choo Meridin Champion Project Sales October 2020
Buying property? FREE CONSULTATION with Cheston Choo

Budget 2021 More Positive - Get your "Home" with us.

Post Navigation

We love to hear from you

your thoughts are highly appreciated

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest

More Posts

Real property story, real people decision, real story & real property. Here are a few of real property stories for all of us to…
Would property price really drop? 1. Property Price May Drop – Developer If we ask the developer, the answer is NO. If they answered…
Before I tell you about this low density with nice facilities property which I think is a good buy, let me share 4 important…
One of my property viewing summary, first to make it as post for sharing what we need to take note for decision comparing. Will…
Real estate business can be a seriously rewarding career if you are self-motivated, hard-working, honest, and enjoy networking and helping people. Now we pay……

Properties

Low Floor Platino with move in condition for rent at RM3,800 per month only. Come with 3 bedroom + 1 maid room + 1…
14th Floor Platino with 5 star US Interior Designer (Top notch design with dishwasher, sink disposal and more then others can offer) It’s for…
10th Floor Vertiq For Rent with 2 car park and Fully Furnished. Move in Condition so that you can just bring your luggage in….
Idaman Iris 2 car park for sale RM 405k only, this house is tenanted and messed with tenant’s belongings, but when we really look…
Taman Sri Kijang for sale below RM300k, a single storey terrace with a bit old condition is for sale now, the price is average…
Sanctuary Residence For Sale RM668,000 Best Deal Original Unit, Land Area 2,574 sq.ft. Built Up 22′ x 73′ Double Storey. FREE PROPERTY CONSULTATION &…

Like us on Facebook

every share, warms the heart ❤️

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest

thank you for sharing this

Subscribe Now