In presenting the Malaysian Budget 2026, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim announced several strategic allocations and incentives aimed at supporting housing development, urban renewal, and property market resilience. Below are some key measures that directly and indirectly affect Penang’s property market:
A flat stamp duty rate of 4%–8% will be imposed on property transfers involving non-citizens and foreign companies, with permanent residents exempted from this measure.
The full stamp duty exemption on first-home purchases up to RM500,000 is extended until 31 December 2027, continuing to assist first-time homebuyers amid rising property costs.
UDA Holdings Bhd will lead wakaf land development projects worth nearly RM250 million, including Taman Wakaf Seetee Aisah Phases 2 and 3 and Taman Sultan Sallehuddin Phases 1B and 2B.
Additional allocations include tax deductions of up to RM500,000 for renovation and refurbishment of business premises by tourism project operators, RM76.6 million to upgrade Urban Transformation Centre (UTC) facilities, and RM2.3 billion for airport upgrades in Penang, Sabah, and Sarawak, scheduled for completion by 2028.
