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BUDGET 2022: Housing Highlights

Property News/ 29 October 2021 Leave a comment

budget-2022-penang

The government will continue implementing housing projects, especially for the low-income earners, with a total allocation of RM1.5 billion.

In tabling Budget 2022 at the Dewan Rakyat today, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said all Malaysian families have the right to own a home.

He added that the government will no longer impose the real property gains tax for property disposals by individual citizens, permanent residents, and other companies starting from the sixth year and above.

Starting next year, the government will also provide a RM2 billion guarantee to banks via the Housing Credit Guarantee Scheme to provide gig workers, micro-entrepreneurs, and farmers with access to financing.

“I’ve heard gig workers, micro-entrepreneurs, and farmers complaining that they find it difficult to buy a house as they do not have a fixed income, making it difficult for them to get a housing loan.

“Some of them actually have the ability to repay the loan but there is no proof of fixed income,” he said.

Source: EdgeProp.my

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  1. Sammy
    October 29th, 2021 at 19:36 | #1

    I would say it’s a a duly considerate and “kind-hearted” Budget 2022.

  2. Mich
    October 30th, 2021 at 08:21 | #2

    Kind hearted or not it’s subjective lah, but this budget definitely makes sense. When people own a property for more than 5 years, it can definitely be not speculative in nature. Only an arrogant F-face Lim Tohkong would think of taxing people for that!

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