THE MALAYSIAN INSIGHT. 12TH JUNE: The Real Estate and Housing Developers’ Association (Rehda) Malaysia hopes that the government would extend the i-Miliki deadline, as many Malaysians may not be aware of the initiative which is ending in a little more than six months.
The initiative, under the government’s Home Ownership Programme 2022/2023 or Hope, began on June 1, 2022. It ends on December 31, 2023.
In a statement, its president NK Tong said i-Miliki is a much-welcomed initiative to assist Malaysians to own houses.
“Consistent with the previously announced Budget 2023, this is another form of targeted subsidy to help the deserving.
“Combined with the memorandum of transfer (MOT) exemption for transfer of houses by way of love and affection between parents and child as well as grandparents and grandchild which was gazetted on the same day, we believe it will assist the government to meet its homeownership agenda,” said Tong.
Under i-Miliki, purchasers of homes priced RM500,000 and below will be fully exempted from paying the stamp duties on the MOT and loan agreement, while purchasers of residential units priced above RM500,000 up to RM1 million will receive a 75% remittance on two stamp duties.
Rehda also opined that such measures to help homeownership should be open to all Malaysians, and should not be limited to first-time buyers only.
“There are many homeowners who are looking to upgrade and (there are) those who have lost their ‘first-time homeowner’ card after inheriting a property who are unable to enjoy the i-Miliki exemptions.
“The incentives would go a long way in assisting this group of buyers,” he said.