RHB Investment Bank Research (RHB IB) said the stamp duty waiver announced by the government will have minimal impact on the overall property market.

In a note on Monday (July 18), the research house said ongoing market headwinds such as rising inflationary pressure and weakening of the ringgit continue to dampen market sentiment.

“Coupled with expectations of higher interest rates ahead, potential homebuyers may defer their purchase of big-ticket items over the next six months.

“We maintain our ‘neutral’ call for the sector.

“Top picks: Matrix Concepts Holdings Bhd and IOI Properties Group Bhd,” it said.

RHB IB said Mah Sing Group Bhd, LBS Bina Group Bhd, Matrix Concepts Holdings Bhd and Tambun Indah Land Bhd will benefit from the incentive, as these developers have relatively high exposure (more than 60%) to property products priced below RM500,000.

It said potential benefits to the bigger players may not be that significant, as mid-range products make up a smaller percentage of their overall portfolio.

“Although demand-driven incentive is now reintroduced, cost pressure remains a big concern for developers as building material prices remain at high levels, while labour shortage issues have yet to be resolved.

“Therefore, we foresee potential downside risk to developers’ earnings in the coming quarters,” it said.

Source: TheEdgeMarkets.com

About Lucerne Residences

The final phase of residential development by Ideal Property Group at Ideal Vision Park in Bayan Lepas. It is just a short drive to Penang International Airport, 10 minutes walking distance to Straits International School. The project will see two blocks of 36-storey skyscrapers featuring a European living concept. It offers 480 residential units with a 5-storey parking podium.

Find out more about Lucerne Residences

First-time homebuyers will get a stamp duty exemption on the instrument of transfer and loan agreement under the Keluarga Malaysia Home Ownership Initiative (i-MILIKI), says Datuk Seri Ismail Sabri Yaakob.

The Prime Minister said homes valued at RM500,000 and below will get a 100% exemption, while properties over RM500,000 to RM1mil will get 50%.

The exemption will apply for sales and purchase agreements that are completed from June 1 to December 2023.

Announcing this at the launch event of the Home Ownership Programme (Hope) and “Karnival Jom Beli Rumah”, the Prime Minister said the initiative was to help Malaysian families own their first homes.

“Although this stamp duty exemption will reduce revenue collection for the country, I would like to stress that this is the government’s commitment towards all Malaysian families.

“According to the Inland Revenue Board (LHDN), the stamp duty exemption claim under the Home Ownership Campaign (HOC) is RM957.8mil.

“In fact, the highest stamp duty exemption claim is for house prices of RM500,000 and below.

“In supporting the Hope programme, I would like to announce i-Miliki, or the Keluarga Malaysia Home Ownership Initiative, which offers stamp duty exemption on instrument of transfer and loan agreement for the purchase of first homes,” said Ismail Sabri in his speech at the event here.

Also present was Housing and Local Government Minister Datuk Seri Reezal Naina Merican.

The “Karnival Jom Beli Rumah” programme at the Mid Valley Megamall Exhibition Centre (MVEC) will be held for three days from July 15-17.

“This campaign will have more than 130,000 affordable homes and over 330,000 free-range properties on offer for the rakyat.

“Homebuyers can enjoy special offers at this carnival, such as discounts, legal fee reductions as well as installment facility for deposit payments,” said Reezal in his speech.

Spearheaded by the Housing and Local Government Ministry, Hope is a programme created to assist the B40 and M40 group to own affordable, decent first homes, in line with the government’s “One Family One Home” vision.

Reezal said so far, 368,000 units of affordable homes are either under construction or at the development stage in the country.

This, he said, is part of the government’s target to build 500,000 affordable homes throughout the 12th Malaysia Plan.

He added that the Malaysian Housing Financing Initiative (i-Biaya) will also assist homebuyers with financing options.

Source: TheStar.com.my

Newly proposed affordable housing development by MHL Development Sdn. Bhd. at Bukit Mertajam. Located off Jalan Indah 5 in Taman Bukit Indah, adjacent to The Retreat Condominium. It is just a mere minute drive to the famous St. Anne Church in Bukit Mertajam and BM Country Club, neighboring with an abundance of essential amenities such as banks, schools, popular eateries and markets.

This development will see the construction of a 24-storey condominium, featuring 204 affordable residential units with 6 levels of car parking podium.

The project is still in the planning stage. More details to be available upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Full list of affordable housing in Penang
• Eligibility and the requirement of buying affordable housing

Project Name : (to be confirmed)
Location : Bukit Mertajam
Property Type : Affordable housing
Tenure: (to be confirmed)
Land Area: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units : 204
Indicative Price : RM250,000 onwards (affordable housing price guide)
Developer : MHL Development Sdn. Bhd.
Last Update: Apr 2024

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

The 2022 PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my, the hallmark of excellence in Malaysian real estate, has launched the voting period for the People’s Choice Awards, where consumers can choose their most trusted and preferred real estate developers.

Malaysia’s top two leading property portals this year launched the 9th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my to bring together two of the nation’s most respected awards programmes to set a new single benchmark for excellence in Malaysian real estate.

MALAYSIAN RESIDENTS WILL CHOOSE THEIR MOST TRUSTED AND PREFERRED REAL ESTATE DEVELOPERS FROM ACROSS THE COUNTRY

• Public voting for the People’s Choice Awards is open online from 11 to 24 July 2022
• Eligible voters will get the chance to win prizes to be announced on 1st of August
• Chosen developers are unveiled via asiapropertyawards.com and at the exclusive gala presentation in Kuala Lumpur in November

As part of the prestigious accolades, the new Awards will also include the coveted People’s Choice Awards, as voted by Malaysian property buyers, plus special recognitions and titles.

Open exclusively for residents in Malaysia, property seekers can shine a spotlight on their favourite developers that deliver the Best in Trust, Quality, and Value for Money in its products and services.
The voting period begins on 11 July and ends on 24 July 2022 via iproperty.com.my/awards/votenow.

Parent companies of projects who are participating in this year’s programme are eligible to be part of the People’s Choice Awards shortlist.

PwC Malaysia has been appointed as the Official Voting Partner to independently verify the votes received online.

Eligible consumers who participate in this voting campaign will be entitled to win exciting prizes, including an overnight staycation, meal vouchers, and several e-vouchers. Lucky campaign winners will be announced on 1 August 2022 online via iproperty.com.my/awards.

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “2022 has been a milestone year for Malaysian real estate. This year, the country’s trusted property portals have joined forces to present the PropertyGuru Asia Awards Malaysia in partnership with iProperty Malaysia to create a single, credible benchmark for the local property market.

Aside from the competitive awards for your trusted developers, we also want you to name your local developers of the year for our People’s Choice Awards, which will be independently verified by PwC Malaysia. Cast your votes and get a chance to win exciting prizes.”

The 9th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my will also honour this year’s best developers, development and design in competitive categories to be judged by an 18-strong expert panel of independent judges, led by Chairperson Dato’ Sr Lau Wai Seang and Vice Chairperson Chris Tia.

These competitive awards, along with some Special Recognition Awards and the People’s Choice Awards, will be presented at the highly anticipated, exclusive gala dinner of the 9th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my to reward industry leaders on 18 November 2022 at the historic Majestic Hotel in Kuala Lumpur.

The event will also be streamed live via asiapropertyawards.com/TV-Podcast/ and the official channels on Facebook, LinkedIn, and YouTube, as well as on iProperty.com.my’s Facebook page. Highlights of the event will air on the History Channel, the official cable TV partner of the Awards.

iProperty Malaysia first announced the People’s Choice Awards in 2014 to recognise property developers that have captured the trust and confidence of consumers. Through this stamp of approval directly coming from property consumers, the Top 10 Developers will have increased confidence in their connection with the local market.

Voting for the 2022 People’s Choice Awards is now open at iproperty.com.my/awards/votenow.

The 9th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my is supported by gold sponsor Kohler; official portal partners PropertyGuru.com.my and iProperty.com.my; official venue The Majestic Hotel Kuala Lumpur; official cable TV partner History Channel; official magazine PropertyGuru Property Report; media partners KopiandProperty.com, Luxuo, Palace, Penang Property Talk, Top 10 of Malaysia, and Yacht Style; official ESG partner Baan Dek Foundation; People’s Choice Awards official voting partner PwC Malaysia; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.