{"id":2308,"date":"2019-03-05T11:08:41","date_gmt":"2019-03-05T11:08:41","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=2308"},"modified":"2021-06-04T14:18:12","modified_gmt":"2021-06-04T07:18:12","slug":"extend-malaysian-stamp-duty-exemptions-to-secondary-units-agents-to-government","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/extend-malaysian-stamp-duty-exemptions-to-secondary-units-agents-to-government\/","title":{"rendered":"Extend Malaysian stamp duty exemptions to secondary units: agents to government"},"content":{"rendered":"<figure id=\"attachment_2309\" aria-describedby=\"caption-attachment-2309\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-2309\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/03\/shutterstock_1300947637-compressor.jpg\" alt=\"\" width=\"1000\" height=\"745\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1300947637-compressor.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1300947637-compressor-300x224.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1300947637-compressor-768x572.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-2309\" class=\"wp-caption-text\">Kuala Lumpur, Malaysia. Tuah Roslan\/Shutterstock<\/figcaption><\/figure>\n<p>First-time home buyers should derive benefits from\u00a0the Home Ownership Campaign (HOC) even if their desired units are on the secondary market, according to the Malaysian Institute of Estate Agents (MIEA) via\u00a0<a href=\"https:\/\/www.thesundaily.my\/business\/miea-extend-home-ownership-campaign-perks-to-secondary-market-FK639632\" target=\"_blank\" rel=\"noopener\">The Sun Daily<\/a>.<\/p>\n<p>While the institute appreciates the scheme initiated by\u00a0the finance ministry, it is critical that the government \u201cshould not close the door to first-time property buyers by limiting incentives to only properties offered by developers,\u201d it said in a statement Monday.<\/p>\n<p>HOC offers stamp duty exemptions on instrument of transfer for properties worth MYR300,001 to MYR1 million and loans up to MYR1 million.<\/p>\n<p>\u201cThere are significantly more varieties of homes at affordable prices for first-time home buyers within the secondary property market. Based on this premise, we should allow for the exemption of stamp duties to cover the purchase of homes within the secondary market by first-time buyers,\u201d it added.<\/p>\n<p>As the \u201cbedrock\u201d of the property sector, the secondary market sustains the real estate industry and propels its growth, MIEA stressed.<\/p>\n<p>\u201cWe also request Bank Negara Malaysia to study and implement a fair and equitable loan approval and streamlined process for first time buyers and\/or set up a special revolving fund to fund these buyers,\u201d the association also suggested.<\/p>\n<p>\u201cThis will allow for a shift in the dynamics of the property market, not only allowing for the disposal of \u2018overhang\u2019 properties but also unsold completed projects that are vacant.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Don&#8217;t forget the bedrock of the property industry, the Malaysian Institute of Estate Agents say<\/p>\n","protected":false},"author":2,"featured_media":19965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[],"class_list":["post-2308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","news_country-malaysia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Extend Malaysian stamp duty exemptions to secondary units: agents to government | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/extend-malaysian-stamp-duty-exemptions-to-secondary-units-agents-to-government\/\" \/>\n<meta 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