1 week Ago
KUALA LUMPUR: The Home Ownership Campaign 2.0 will continue until Dec 31 next year, says Nga Kor Ming. Highlighting the government’s commitment to this, the Housing and Local Government Minister said first time home buyers would be given a 100% stamp duty exemption for properties priced RM500,000 and below, under the programme.
“In Budget 2025, the Madani administration also allocated RM900mil to build People’s Residency and Rumah Mesra Rakyat projects. “At the same time, the government has also prepared additional incentives to encourage homeownership among first-time home buyers,” he said in a statement on Monday (Oct 21). Nga was initially slated to respond to a similar question by Datuk Iskandar Dzulkarnain Abdul Aziz (IND-Kuala Kangsar) during question time in Parliament on Sunday, but proceedings progressed to debates on the Supply Bill 2025 instead.
When tabling the Supply Bill 2025 on Friday (Oct 18), Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim announced that first-time buyers will also get a tax relief of up to RM7,000 for purchasing residential homes priced up to RM500,000. As for properties priced between RM500,000 and RM750,000, buyers will qualify for a tax relief of up to RM5,000. “These reliefs can be claimed for three consecutive assessment years on sale and purchase agreements completed between Jan 1, 2025 and Dec 31, 2027,” said Anwar.
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