Themed “Membangun Malaysia Madani”, Anwar, who is also the Finance Minister, stressed the government’s aim is to alleviate the rakyat’s struggles amidst the economic challenges, while ensuring a sustainable fiscal growth for the nation.

Houses for the rakyat

In line with that, there was a list of allocations for affordable housing programmes:

1. RM389.5 million to build People’s Housing Project (PPR) and People’s Rented Housing Programme
2. RM358 million to build 4,250 Rumah Mesra Rakyat units
3. RM463 million to build Malaysia Public Housing Project (PPAM)
4. RM50 million to repair run-down lifts in low-cost strata houses
5. RM460.2 million for building new and renovating houses in rural areas
6. To build 7 million units of affordable houses for armed forces under Satu Anggota Satu Rumah programme (SASaR)
7. More than RM500 million to maintain Rumah Keluarga Angkatan Tentera and repair the living quarters and institutions under the Ministry of Home Affairs

Stamp duty exemptions for first homes maintained

For first-time homebuyers, the following measures announced in the October budget have been maintained as follows:

1. Full stamp duty exemption for homes priced RM500,000 and below
2. 75% stamp duty exemption for homes priced between RM500,001 and RM1 million

Housing credit guarantee scheme increased

The housing credit guarantee scheme has been given an allocation of RM5 billion to help up to 20,000 borrowers with no fixed income from the gig economy to get loans. This is a significant increase from the RM3 billion budgeted in October.

Stamp duty on property transfer by way of love and affection revised

The stamp duty of only RM10 for transfer of properties between parents and children, and grandparents and grandchildren, which was proposed in the October budget, has been revised to the following:

1. First RM1 million – full exemption
2. Balance above RM1 million – subject to an valorem duty rate and given 50% discount

They are applicable for transfers signed from April 1 this year, and only where the recipients are Malaysian citizens.

We are much more confident in the types of land we are awaiting for you such as the residential & general housing land. These are lands where you can build an awesome service apartment, townhouses, Penang-super-condominiums and luxury homes. We have noted that most people especially those with families prefer residential lands where they can construct terrace houses, semi-detached houses and single family stories. Apart from residential land, we have vacant land. In these we have three categories from our clients choose from depending on their genuine intent on the land. However, for any investment, an informed decision is highly recommended and is only generated by thorough checking on the status of the land on demand and is done at the Land Registrar or Land office.

Freehold land is a type of a vacant land and has a full life ownership. This basically means, if you happen to own any of these freehold lands, you will own anything that is in that particular land for an unlimited time. In leasehold land, land ownership expires upon expiry of the lease agreement between you and the owner of the land. We do not however, advise long-term investors to go for leasehold land. This type of land is most suitable for those doing short-term development whose returns can be acquired within the shortest time possible. Basically, the value of leasehold land depreciates as the lease agreement approaches expiry.

Land prices vary from one to another depending on very many reasons especially the purpose of the land. Though we have the most reasonable prices, we also make it clear to our clients what our lands are for. We have classified Bungalow land, Development land and agricultural land. We shall never mislead you on the purpose of the land and what it is mostly suitable for and that which is acceptable by the county council of Penang and the laws of Malaysia. Other valuable types of lands we have available are open land and seaside land. You may decide to construct a beach hotel on this land regarding that Malaysia is a tourist attraction site of most western & middle east countries. Others that interested clients are undeveloped lands and cheap lands. These are one of the most suitable lands for bringing up your land development idea. Basically, we cover all spheres of land development even though it might not have been mentioned here. We are just a call away from you. You can make enquiries from our experts at anytime of the day and make your dream come true.