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Malaysian Government latest policy on housing & real estate • 5th Jun 2020

Malaysian Government latest policy on housing & real estate

Malaysian Government latest policy on housing & real estate

(1) RPGT

RPGT exemption for disposal of residential homes between 1 June 2020 to 31 December 2021

Limit to 3 properties per person

Key word:

  • Residential
  • 1 June 2020 to 31 December 2021

(2) Loan Margin

Limit of maximum 70% margin on financing for 3rd Propery is lifted during the Home Ownership Campaign (HOC), for purchase of properties above RM600,000

Whether a buyer can get loan financing above 70% for the third property depends on the bank.

Previously banks are prohibited from giving above 70%, now this restriction is lifted.

Key word:

  • above RM600,000
  • subject to credit approval by individual banks

(3) Stamp Duty on Loan

100% waiver of stamp duty on loan agreements for SPAs signed between 1 June 2020 and 31 May 2021.

But developers must first give a minimum 10% discount to the properties.

Key words:

  • minimum 10% discount by developers
  • only residential properties
  • priced between RM300,000 and RM2.5 million

(4) Stamp Duty on Instrument of Transfer

  • limit to the first RM1 million of the home price
  • not a full waiver
  • anything above RM1 million still attracts stamp duty on the MOT.

Key words:

  • home priced between RM300,000 and RM2.5 million
  • residential
  • SPA signed between 1 June 2020 and 31 May 2021
  • minimum 10% discount by developers

Objectives

  • to stimulate the property market
  • provide financial assistance to home buyers

Above is my understanding based on the limited information made available at this moment


(1) only residential (does not apply to commercial properties)

(2) waiver of stamp duty only applies to New Projects and not Subsale (since the requirement is developers must first give a 10% discount)

(3) removal of 70% cap on third property applies to both Subsale and Projects

Need wait final details only can know, but probably both Subsales and project

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