Budget 2019 has been carefully crafted to balance fiscal discipline and growth. The government commitment in addressing the need for affordable homes, for example, the special RM1bil fund by Bank Negara which can be accessed by purchasers of homes below RM150,000.

The mortgage guarantee for buyers with a household income of up to RM5,000 will enable them to enjoy substantial savings of between 7% and 11%.

Many measures about stamp duties are also favorable for first-time home buyers of properties below RM500,000 and those looking for homes for immediate occupation below RM1mil.

These measures would benefit the low-income group, first-time home buyers, government servants and also address the current overhang situation in residential properties.

So, here is the summary of Budget 2019 for Property and Housing Outlook.

?RM1.50bil to build and complete affordable homes under the People’s Housing Programme, Civil Servants Housing Project, PR1MA and Syarikat Perumahan Nasional Bhd.
?RM1bil fund to be set up by the Central Bank of Malaysia (BNM) for those earning under RM2,300.00 per month to buy affordable houses priced up to RM150,000.
?RM400 mil allocated to improve living quarters of covol servants such as police and military personnel and teachers.
?To help civil servants acquire homes, the Public Sector Housing Financing Board will extend the loan repayment period from 30 to 35 years for the first loan, and from 25 to 30 years for the second loan.
??Real Estate and Housing Developers’ Association Malaysia (REHDA) agrees to reduce house prices up to 10% for houses which are not subject to price controls under new projects.
??For first-time home buyers, purchasing residential properties priced up to RM500,000, stamp duty exempted up to RM300,000 on sale and purchase agreements as well as loan agreements for two years until December 2020.
?For first-time home buyers with a household income of RM4,000 or less, RM25mil allocated to Cagamas Berhad to provide mortgage guarantees to enable borrowers to obtain higher financing from financial institutions, inclusive of downpayment support.
??For six months only, starting Jan 1, 2019, all stamp duty charges for first-time purchases of homes valued between RM300,001 and RM1mil will be waived.

?10% Real Property Gain Tax for companies and foreigners and a 5% rate for Malaysian for the disposals of properties or shares in property holding companies after the fifth year.
?Malaysians owning low cost, low medium cost and affordable housing with prices below RM200,000 will be exempted from Real Property Gain Tax.

4% Stamp Duty on the transfer of property valued at more than RM1,000,000

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