NEW STRAITS TIMES. 29TH OCTOBER: Leading property website PropertyGuru Malaysia has commended the government for focusing on the nation’s recovery and introducing initiatives that can further build Malaysia’s resilience and alleviate the struggles of the rakyat in tabling of the 2022 Budget.
It specifically applauded the RM1.5 billion allocation to continue low-cost housing projects and the additional RM2 billion allocation to enable those without a stable income to own a home through the Housing Credit Guarantee Scheme under the Pemilikan Rumah Kediaman initiative.
It said, according to its recent Consumer Sentiment Study, 46 per cent of Malaysians surveyed shared that they face difficulties in securing home loans, with the top two barriers being inability to afford down payment and unstable job or salary.
“Hence, these two measures announced will bring relief to the woes of many Malaysians, alleviate the struggles of potential homebuyers in the country, as well as further encourage homeownership in a systematic and inclusive manner as we believe that all Malaysians have the right to own their dream home,” said PropertyGuru country manager Sheldon Fernandez.
In addition, he said the government’s move to no longer impose Real Property Gains Tax (RPGT) on properties that are disposed from the sixth year onwards is laudable, as they believe this would not only help to decrease the burden of non-speculative property holders, it will also help to stimulate the property market by encouraging the buying and selling of residential properties.
“This was also a measure that 58 per cent of Malaysians wished for from the government, according to our Consumer Sentiment Study,” he said in a statement.
Fernandez said overall, the 2022 Budget has shown the government’s commitment to supporting the rakyat who were affected by the pandemic, and the strategies and initiatives outlined are especially pertinent to the Keluarga Malaysia theme.