5 Tips Quick Property in 2019
Budget 2019 have announced by the Malaysian government by introducing several new housing allowances many of Malaysian happy with it as the allowances make them affordable to buy a house today. Apart from that, we have to know how to grab this chance before it ends.
- Starting 1 January 2019, the government will relinquish stamp duty charges for first-time purchases of homes valued between RM300,001 and RM1 million. (This opportunity only for six months earlier this year to enjoy a minimum 10% from the developer)
2. the Real Property Gains Tax (RPGT) exemption can enjoy for the low-cost home only after 5th year. rates will be revised for disposals of properties or shares in property holding companies after the fifth year. For Malaysian individuals, the rate shall be increased from 0% to 5%. However, low cost, low-medium cost and affordable housing with prices below RM200,000 will be exempted.
4. The allocation from government nearly RM1.5 billion for Program Perumahan Rakyat (PPR), Perumahan Penjawat Awam Malaysia (PPAM), PR1MA and Syarikat Perumahan Nasional Bhd need to take this advantage of the home-buying schemes out there!
5. For lower income groups who earn not more than RM2,300 per month, Bank Negara Malaysia will establish a fund amounting to RM1 billion, to help people purchase affordable homes priced up to RM150,000. The participating financial institutions, namely AmBank, CIMB, Maybank, RHB and BSN through a concessionary financing rate as low as only 3.5% per annum.