The Malaysian Institute of Estate Agents (MIEA) has called on the government to extend the incentives offered to first-time buyers under the ongoing National Home Ownership Campaign to the secondary property market. The six-month campaign is scheduled to end on June 30.
In a statement yesterday, the MIEA pointed out the secondary residential property market makes up about 80% of all residential property transactions locally.
“The MIEA is very appreciative that the ministry of finance has introduced new programmes to stimulate the primary market by focusing on first-time homebuyers,” it said. “However, it is critical that we should not close the door to first-time property buyers by limiting incentives to only properties offered by developers.”
The MIEA said there are more varieties of homes at affordable prices for first-time homebuyers in the secondary property market.
