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Economic Recovery Plan for Property Sector

June 5th, 2020 Leave a comment

economic recovery for property

To stimulate the property market and provide financial relief to home buyers, here are the incentives announced by Prime Minister today:

1. Home Ownership Campaign (HOC) to be reintroduced:

Stamp duty exemption on the instruments of transfer and loan agreement for the purchase of residential homes priced between RM300,000 to RM2.5 million subject to at least 10% discounts provided by the developer. The exemption on the instrument of transfer is limited to the first RM 1 million of the home price while full stamp duty exemption is given on loan agreement effective for sales and purchase agreements signed between 1st June 2020 to 31st May 2021.

2. RPGT exemption for disposal of residential homes from 1st June 2020 to 31st December 2021 (This exemption is limited to the disposal of three units of residential homes per individual)

3. In addition, the current 70% margin of financing limit applicable for the third housing loan onwards for property valued at RM600,000 and above, will be uplifted during the period of the HOC, subject to internal risk management practices of financial institutions.

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  1. Sammy
    June 6th, 2020 at 06:46 | #1

    With the scenario now our whole world is facing, imposing RPGT is a real joke !

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