Budget 2018: What’s in it for housing?

Property News/ 28 October 2017 Leave a comment

budget2018For housing, the following was announced in Budget 2018 to ease home ownership in Malaysia:

1. The Government will continue to intensify efforts to increase home-ownership for the rakyat with an allocation of RM2.2 billion as follows:

  • 17,300 units of People’s Housing Programme;econd: 3,000 units of People’s Friendly Home under SPNB;
  • 210,000 units of houses under PR1MA with prices RM250,000 and below. For this, RM1.5 billion is allocation for the period of two years;
  • 25,000 units of 1Malaysia Civil Servants Housing Programme (PPA1M) will be completed in 2018 while another 128,000 units are at various stages of construction;
  • 600 units of MyBeautiful New Homes (MyBNHomes) scheme for B40 households in Terengganu, Pahang, Melaka, Johor, Sabah and Sarawak as well as Orang Asli settlements;
  • 2,000 units under MyDeposit programme to assist down payments as well as MyHomes programme to enable developers to provide more affordable homes; and
  •  A sum of RM200 million is allocated for maintenance and refurbishment of houses, including the 1Malaysia Maintenance Fund.

2. To encourage the construction of more affordable homes, the step-up financing scheme introduced by PR1MA will be extended to private housing developers subject to certain criteria.

3. With regard to abandoned housing projects, stamp duty exemption for loan agreements and letter of consent to transfer, are given to rescuing contractors and original owners of abandoned projects, effective 1 January 2018 to 31 December 2020.

4. To promote rental of residential homes, for the first time in 60 years, the Government proposes a 50% tax exemption on rental income received by resident individuals not exceeding RM2,000 per month for resident individuals.

5. This exemption is effective from the year of assessment of 2018 to 2020. The Government will also formulate the Residential Rental Act to protect the landlord and tenant.

Source: TheStar.com.my


  1. Mamu
    October 29th, 2017 at 01:10 | #1

    In my personal opinion, the government don’t have to build low cost houses, people friendly or finance friendly houses ‘for people’s sake’,
    Gov don’t have to start up various agencies and schemes to help people buy houses,
    Gov don’t have to force private developers to build more affordable low cost/medium cost houses.
    What government need to do is just control the current housing prices, it may seem impossible but how about approving projects that are priced reasonably? How about banning projects that are laughingly high. They still have the right to disapprove highly priced projects.
    Does the Gov realize that by putting a cap on low cost houses price, developers are happily launching more and more overpriced projects.
    Guys, just think if an 800sq ft apartment costs 300k in penang today, how much would it cost in the next 10,20,30 years to come? Would our childrens and grandchildrens be able to afford comfortable homes. Is their only option would be low cost projects?

  2. kani-abo
    October 29th, 2017 at 17:13 | #2


    Kanina, 300k apartment you say expensive, gov build low cost houses you say dont have to, than apa lagi mamu mau? You want all properties to cost 100-200k is it? You want everything to fit just nicely into your budget is it? You want everyone to wear the same underwear as you is it? Mamu ni terlampau loh.

  3. ==
    October 29th, 2017 at 18:35 | #3

    Apa lu mau? U want ur childrens stay luxury project with below 300k? U want force developer build quality project without profit? U want house price forever maintaince 300k for ur childrens? Mamu ni melampau lol

  4. Phileo Damansara
    October 29th, 2017 at 19:10 | #4

    Work hard, earn more and buy better homes. Do not remain stagnant Mamu. Time and tide, wait for no man.

  5. may ooi
    October 30th, 2017 at 08:42 | #5

    Mamu is right. You guys are suckers for the developers.

    Skyhigh prices for homes on hills that slide, houses that cost millions with leaky roofs, cracked walls, and even “staycation” homes as neighbours.
    People are working hard enough and developers are laughing all the way to the bank with gullible kiasu buyers paying for overpriced homes with their hard-earned money.

  6. Oh nice
    October 30th, 2017 at 11:58 | #6

    i think what Mamu said is to turn all developer into charitable organisation by providing 300k housing with million ringgit facilities….

  7. kani-abo
    November 1st, 2017 at 08:00 | #7

    @may ooi

    kanina may ooi, don’t suck here suck there lah. You always think about sucking only, you very itchy ya!

    Can you please point out which part of mamu’s comment that says we are suckers? Also, pls point out which part of mamu’s comment that you think is “right”. All I can see from mamu’s comment is that he is a financial retard who blames everything on the gov. Nothing is ever his own fault, it’s all others fault that he doesnt have enough money to buy a comfortable home, while he is sitting home wanking.

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